TSB has made rate changes to its homemover and first time buyer mortgages and introduced £250 cash back for people with a higher loan to value (LTV).

The lender has reduced rates on all existing two-year fixed rate and the majority of five-year fixed rate mortgages for those with a higher loan to value of 85-95%.

It is also offering £250 cashback on fixed rate mortgages over 85%, including two, five and ten years.

In addition, TSB is launching two new mortgages in the 90-95% range with a £995 product fee.

The new two-year fixed mortgage at 90-95% LTV offers a rate of 3.98%, whereas the five-year fixed comes in at 4.69%. Customers can also benefit from £250 cash back when choosing these products.

Those that have a lower LTV ratio on their home (less than 85%) will see rates increase on two-year fixed rate, two-year tracker and five-year fixed rate mortgages by up to 0.10%.