TSB Bank has reduced the interest rate by 0.10 percentage points on the five-year fixed rate at 60-75% LTV for residential remortgage borrowers. 

The rate is now 1.79% with a £995 fee.

For what it says will be a short period, TSB will not be offering some mortgages from its range, including its three-year fixed rate house purchase and ten-year fixed rate house purchase and remortgage products.

Roland McCormack, mortgage distribution director, said: “The interest rate reduction on our five-year fixed rate remortgage product is a welcome step for those looking to fix their monthly payments for a longer period of time.

“TSB is committed to helping people to borrow well and this rate reduction is an example of us doing exactly that.”