The lender has cut rates by up to 0.2% on a number of products, including two- and five-year fixes.

Homeowners with a deposit of between 25% and 40% can now take advantage of two-year fixed rate products starting at 1.74% with a £995 fee.

Between 75% and 80% loan-to-value these deals are on offer at 2.14%. Rates for those with a 15% deposit begin at 2.39%.

TSB’s range of two-year tracker mortgages have all been reduced by 0.1% while five-year fixed deals have also been reduced.

A five-year fix is now on offer up to 85% loan-to-value with rates starting at 2.59%. A £995 fee applies.

The lender has also cut rates on its entire buy-to-let range, but these deals are currently limited to customers who use a mortgage broker to apply.

Three-year fixed rate deals now start at 3.04% with an LTV of up to 60% and fees of £1,995. The fee-free equivalent is on offer at 3.44%.

Last month TSB launched a new range of mortgages, aiming to offer ‘breathing space’ to borrowers purchasing a new home. These products have a lower interest rate for the first year and aim to help those struggling with additional outgoings in their first year of home ownership.