TSB is launching a new range of fixed rate mortgages with up to 95% loan to value (LTV).

It is also the only lender to currently offer a 10-year fix at 95% LTV.

These mortgages will be available to customers applying directly to TSB either in branch or over the telephone, with the range due to be available through TSB Intermediary later in the year.

The deals will be available to both first-time buyers and home movers, with rates at 4.69% for two years, 4.99% for five years and 5.69% for the 10-year, Fix and Flex, deal.

Fix and Flex is a 10-year fixed rate mortgage deal that the borrower can leave after five without having to pay an early repayment charge.

Although no arrangement fee is charged, consumers will have to pay a small interest-free fee to cover the setting up, routine maintenance and closing down of the mortgage

Ian Ramsden, head of mortgages at TSB, said: “TSB was born to bring competition to the market and we are committed to offering our mortgage customers competitive products to help them realise their home ownership plans.

“We are the only mortgage lender to currently offer mortgages up to 95% with a 10-year fixed rate. Helping people to get a foot onto the property ladder is a fundamental part of creating thriving local economies, and people thriving all over Britain is what TSB’s local banking for Britain is all about.”