TSB has announced that it has removed the Mortgage Application Fee from all of its products, across its residential and buy-to-let mortgage ranges.

The lender said that removal of the Mortgage Application Fee, which used to cost £265, took effect for new mortgage applications from 20 October 2016.

It has also launched a new range of three-year fixed rates, including a rate of 1.84% up to 60% of the property’s value, 1.99% up to 75%, 2.14% up to 80% and 2.29% up to 85%, 2.89% up to 90%, and 3.89% for borrowers who need to borrow up to 95%.

Roland McCormack, 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.”