TSB has reduced interest rates by up to 0.10 percentage points on selected mortgages for residential remortgage borrowers.

For example, five-year fixed rate mortgages for residential remortgage borrowers, 0-80% LTV, rates reduced by 0.05-0.10 percentage points.

Meanwhile, two-year fixed rate mortgages for residential house purchase borrowers, 85-95% LTV, have been temporarily withdrawn.

Roland McCormack, TSB’s mortgage distribution director, said: “The interest rate reductions on our five-year fixed rate remortgage product are great news for those looking to fix their monthly payments for a longer period of time.

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