TSB has reduced rates on a range of mortgage products from homemovers and remortgages.

It has also expanded its affordable housing offering to include new mortgages with low rates and no product fees.

A range of TSB’s two-year and five-year fixed rate mortgages for first time buyers and homemovers have been reduced by up to 0.60 percentage points, while some of TSB’s three-year fixed rate and two-year tracker mortgages have also been reduced.

TSB’s new affordable housing five-year fixed rate products start from 2.79% with no product fee, or 2.54% with a product fee of £995.

For remortgagees preferring a two-year fixed rate mortgage from TSB’s affordable housing range, the Bank has today launched a series of new products with rates from 2.39% with no product fee, or 1.99% with a product fee of £995.

Roland McCormack, TSB’s mortgage distribution director, said: “Today’s rate reductions maintain TSB’s position as a competitive lender across the market, with our signature outstanding broker service.

“The launch of our new products offers homeowners even more choice at TSB, helping even more people borrow well.”