Lloyds TSB launches fully flexible mortgage

31-Aug-2006

Lloyds TSB's new fully flexible mortgage offers all borrowers, including first time buyers, a one per cent lifetime discount on the product's standard variable rate for all LTV's up to 90 per cent, with a 0.5 per cent discount for LTV's up to 95 per cent.

The current interest rate for loans up to an LTV of 90 per cent is 5.75 per cent; 95 per cent LTV currently attracts an interest rate of 6.25 per cent.

"The Easy Living mortgage means customers no longer have to switch their mortgage every two or three years in order to get the best deal," said Jon Pain, managing director of Lloyds TSB mortgages.

"In fact, over a 25 year term, if a customer remortgages at the end of each deal, they could be spending thousands more over the mortgage term than someone who chooses Easy Living," he added.

The new mortgage allows customers to make overpayments, settle the mortgage early, switch between repayment and interest-only or even change the term of the mortgage.

Any changes made to the Easy Living mortgage are fee free.

In addition to mortgages, Lloyds TSB offers a number of other products and services, including current accounts and credit cards.

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