TSB has launched a new five-year product in its first-time buyer mortgage range.

It is available at 85-90% LTV with £500 cashback and is priced at 3.79%.

This new product follows the launch of TSB’s new mortgage products specifically aimed at helping first-time buyers get on the property ladder.

It will be available in addition to the new suite of products already on offer.           .

 Nick Smith, head of mortgages at TSB, said: “We know that raising a deposit is often the biggest challenge our customers face when buying their first property. With the continued challenging environment, we have introduced a mortgage that will provide more help for our customers to buy their first home.”