Lloyds TSB launches new flexible mortgage
www.moneynews.co.uk > Mortgages > Lloyds TSB launches new flexible mortgage
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Money News |
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Lloyds TSB launches new flexible mortgage
Thu 31st Aug 2006
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The high street lender is launching a new and improved mortgage package, designed to benefit the customer and allow flexibility in their finances.
The Easy Living mortgage boasts none of the usual fees associated with mortgages and allows customers to change the terms at any stage they wish, with no fees.
Easy Living also allows customers to pay off their mortgages early, change between repayment and interest-only, and they can apply to boor more money with the same discount without paying a fee.
Managing director of Lloyds TSB Mortgages, Jon Pain, said: "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.
"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 that someone who choses Easy Living.
"We are giving customers complete control of their mortgage so they can do what they want, when they want, which is what they have asked for."
Lloyds TSB research has found that a quarter of people with a fixed rate mortgage do not consider the costs of re-mortgaging when deciding on a short term fixed rate mortgage.
Over a 25 year period, switching mortgages can cost homeowners up to £4,000 on fees alone.
Related News : Mortgages |
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Related News : LloydsTSB |
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