Lloyds TSB fixed rate mortgage 'offers choice'

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Lloyds TSB fixed rate mortgage 'offers choice'

A source from Lloyds TSB has claimed a new fixed rate mortgage from the firm offers customers additional choice regarding their repayments.

Stephen Noakes, commercial director at the company, noted that some people may prefer lower upfront costs for their home finance deal, but this arrangement is designed for those who want to pay more initially but then enjoy a lower interest charge.

The Lloyds TSB three-year fixed rate mortgage is available at up to 75 per cent loan to value and features an interest rate of 3.74 per cent and 3.94 per cent for current account and non-current account clients respectively.

He pointed out that there has been talk of a potential rise in the base rate in the near future, which may prompt consumers to opt for the product.

Mr Noakes said: "Many borrowers will be looking for the security of lower monthly payments for the next three years which this product provides."

This month, the firm claimed house prices in west London are being driven up by celebrities and rich businessmen.

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