TSB has reduced mortgage rates by up to 0.65 percentage points on shared ownership/equity mortgages.

Deals now start from 2.24%. This range of shared ownership/equity mortgages is available on two year fixed rate deals up to 90% loan to value (LTV).

TSB has cut the rate on its two-year fee free shared ownership/equity mortgage by 0.65 percentage points to 2.89% for homebuyers taking out a loan of up to 75% of the value of their property. Rates for those paying a fee of £995, start from 2.24% for LTVs up to 60%, and 2.49% up for LTVs of 60-75%.

Homebuyers looking for a shared ownership/equity mortgage with a smaller deposit will also see TSB rates cut by more than 0.5 percentage points. The bank is cutting rates for people with a deposit of 10-20% of the value of their property by 0.55 percentage points, with rates now at 4.54%. Customers with a slightly larger deposit of 20-25% will benefit from the same reduction, with rates at 3.34%.

Homebuyers taking out a loan with an LTV of up to 75% will receive £250 towards the cost of a solicitor carrying out a conveyance on their new home.