Thursday 31st August 2006
Lloyds TSB has unveiled two new mortgages that may appeal to both new and experienced home buyers.
The companys discount-rate mortgage offers a one per cent discount on Lloyds TSBs standard variable rate (SVR).
It lasts for the entire term of the mortgage and is available for up to 90 per cent of the propertys value.
At current levels, the rate of interest works out at 5.75 per cent, above the 5.24 per cent offered by the banks lifetime tracker option.
For loans of 95 per cent of the propetys price, a discount of 0.50 per cent is offered.
What is thought to be the UKs first fully flexible mortgage has also been launched.
The Lloyds TSB Easy Living mortgage offers a fee-free deal allowing customers to alternate between interest-only and repayment mortgage options as well as allowing them to change the length of the term, make overpayments and pay off the entire loan early without charge.
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