The lender is also offering £500 cashback for customers who are exempt from paying stamp duty, and those whose property purchase price is above £250,000.

The offer applies to a range of mortgage products with interest rates starting from 2.84%.

According to TSB, the average homebuyer currently spends more than £1,650 on stamp duty, with more than one in 10 (11%) aspiring homeowners worrying about their ability to cover such costs. 

Ian Ramsden, mortgages director at TSB, said: “With more than one in 10 customers worried about shelling out for stamp duty, it is clearly a significant up-front cost for first-time buyers and homemovers alike.

“This offer could save TSB customers up to £2,500 enabling homebuyers across Britain to spend more on what matters most to them when moving house. By putting this money back into its customers’ pockets TSB is helping fuel local economies.”