TSB has cut interest rates by up to 0.10 percentage points on mortgages for home buyer and remortgage borrowers.

Changes include reductions of up to 0.10 percentage points on selected five-year fixed (0-85% LTV) on house purchase and remortgage rates.

The bank has also made further reductions of up to 0.05 percentage points on selected three-year fixed (0-75% LTV) on remortgage rates.

Nick Smith, TSB’s head of mortgages, said: “At TSB we want to help more people to borrow well and these changes are an example of us doing exactly that.

“The interest rate reductions on our fixed rate products are a welcome step for those looking to fix their monthly payments for a longer period of time, with the added bonus of free legals or £300 cashback.”