TSB has made changes to its residential range of fixed rate mortgages:

It has introduced a new five-year fixed house purchase mortgage (0–75% and 75-85% LTV ranges) with a £1,495 product fee.

Meanwhile, 10-year fixed (with 10-year ERC) house purchase and re-mortgage products have been reduced by 0.05 percentage points.

It has also made changes to two-year, three-year and five-year fixed house purchase (90-95% LTV) products.

Nick Smith, TSB’s head of mortgages, said: “More and more of our customers are now opting for longer term fixes so today’s changes will be very welcome news.

“The mortgage market is currently very competitive – and it is likely to remain so over the coming months as many people will be coming off their existing fixed rate products and they will be looking to re-mortgage onto new deals.”