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Yes, the tyre speed rating does matter when buying new tyres.
Speed rating is a measure of the maximum safe speed that the tyre can achieve without failing. It is represented by a letter code that corresponds to a specific speed range. E.g. a tyre with a speed rating of "V" can reach up to 149 mph. While a tyre with a speed rating of "H" can maintain up to 130 mph.
This may all seem a moot point given the speed limit in the UK has a maximum speed of 70mph. However, selecting a tyre with the correct recommended speed rating also can help with the ride comfort and noise levels.
If you are unsure as to which speed rating you require for your vehicle – check your car’s handbook or contact the vehicle manufacturer.