TSB is increasing its cashback offer to £500 from £250 across its shared ownership and shared equity remortgage ranges.

It has also made reductions of up to 0.30 percentage points in two-year, three-year, five-year and ten-year fixed products in its house purchase and remortgage ranges.

In addition, the bank has announced increases of up to 0.25 percentage points in the two-year, three-year and five-year fixed products in the house purchase and remortgage ranges.

Nick Smith, TSB’s head of mortgages, said: “TSB is committed to helping people to borrow well and the increase in our cashback offer is another step to helping customers do just that.

“The interest rate reductions on house purchase and remortgage ranges is also great news for those looking to fix their monthly payments for a longer period of time.”