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Lloyds Bank Mortgages FAQs
What is Lloyds Bank?
Lloyds Bank is one of the oldest banks in the UK, with its origins dating back to the 18th century. The bank offers consumers and businesses a full variety of banking products, including credit cards, loans, mortgages, bank accounts and savings products.
Does Lloyds Bank offer mortgages?
Yes, Lloyds bank offers a range of mortgage deals aimed at first time buyers, those who are moving house or those looking to remortgage.
Can I research mortgages on the Lloyds Bank website?
Yes, there is a range of calculators and guides on the Lloyds Bank website to help you work out how much you can borrow and what your repayments might look like depending on which mortgage deal you opt for. The mortgage calculators may also help you to find out what your interest rate might be, according to your personal circumstances.
There are also calculators you can use to work out how overpaying on your mortgage will impact your account and how your interest might change over time.
Does Lloyds Bank offer fixed-rate mortgages?
Yes, you can opt for a fixed-rate mortgage with Lloyds Bank with various fixed-rate periods. This type of mortgage fixes your interest rate for a certain period, providing borrowers with predictable monthly repayments for a certain amount of time. After the period is up, the rate will convert back to the variable rate that can fluctuate at any time and may vary depending on your personal circumstances.
Does Lloyds Bank offer buy-to-let mortgages?
Yes, Lloyds does offer buy-to-let mortgages providing you meet the lending criteria, which can be stricter than for those wanting to buy a property to live in.
How do I apply for a Lloyds Bank mortgage?
The application process for a Lloyds Bank mortgage is similar to most high street lenders. The first step is to use the online calculators to establish whether there might be an appropriate product for your requirements. You can then get an agreement in principle online before making an appointment for a full mortgage application interview either in branch or over the telephone.
Once the bank has established it is happy with the details you provided and the valuation on the property in question, they will issue a mortgage offer.
Can I overpay on a Lloyds Bank mortgage?
This will depend on the specific deal you sign up to, so make sure you check that you can overpay if this is something you wish to do. Overpaying on your mortgage can reduce the amount of interest that is applied to your mortgage deal. You can use the Overpayment Calculator on Lloyds Bank’s website to see how paying early can reduce your total repayment amount but you should consult your mortgage advisor about the fees or caps associated with this.
Services offered by this provider may change over time. Always check Ts&Cs.