The new two, three, five and 10-year fixed rate products for first-time buyers, starting from 1.84%, as well as a two-year tracker from 1.74%, will all include £750 cashback on completion.

Meanwhile, TSB is reducing rates across other products, most notably for remortgagors with the bank’s best ever five-year fixed rate for remortgaging at 1.89% with 0-60% LTV.

TSB is also helping people looking for shared ownership mortgages borrow well by reducing rates across the range. From today, shared ownership customers with a 0-75% LTV could gain from a reduced rate of 1.74% with a £995 product fee or 2.24% with no product fee, for a two-year fixed rate mortgage.

Roland McCormack, TSB mortgage distribution director, said: “Following a record summer of applications from customers looking to remortgage with TSB, it’s great to launch our best ever five-year remortgage rate today. Not only that, but TSB is helping first time buyers take their first step on the property ladder with the launch of our new, dedicated mortgage range offering £750 cashback and no product fees to new homeowners. TSB really is a lender that supports homeowners to borrow well, no matter if it’s for a customer’s first shared ownership home or if it’s downsizing into retirement.”