TSB Bank has has removed the application fee from all residential and buy-to-let mortgages.

The application fee previously cost £265.

TSB is also introducing new product fee-free three-year fixed rate products. These include rates of 1.84% at 0-60% LTV, 1.99% at 60-75% LTV, 2.14% at 75-80% LTV, 2.29% at 80-85% LTV, 2.89% at 85-90% LTV and 3.89% at 90-95% LTV.

Roland McCormack, TSB’s mortgage intermediary director, said: “The removal of the mortgage application fee on all our products and the introduction of new product fee free fixed rate mortgages is good news for borrowers.

“The changes we’ve made will help homeowners borrow well across the property ladder.”