Lloyds TSB fixed-rate mortgages announced

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Lloyds TSB fixed-rate mortgages announced

Fri 24th Aug 2007

Lloyds TSB has launched three new mortgage products and reduced the interest rate on a current offering.

The new rates include a two-year or five-year fixed rate of 5.99 per cent, with an arrangement fee of £999, and a two-year tracker of 5.49 per cent, which switches to 0.26 per cent below the base rate and has a fee of £1,999.

For a fee of £1,999, customers can also get a two-year fixed rate of 5.79 per cent - which represents a reduction from the previous rate of 5.88 per cent on the product.

All of the offerings are available at up to 90 per cent loan-to-value.

"The new products enhance our customers' choice of rate and fee options so they can tailor the mortgage to their specific needs," said Alison Burns, director of network mortgages at Lloyds TSB.

"Combine the fact that the product fees can be added to the loan with real flexibility and it makes this all round a great mortgage deal for more customers."

Abbey Mortgages recently revealed that the average loan taken out by first-time buyers has almost doubled in the space of four years.

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