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Lloyds TSB offers bank customers mortgage discount

Lloyds TSB is offering its current account customers a 0.2% reduction on its mortgage rates for account holders who deposit at least £1,000 a month and who take out a new mortgage with the lender.

The lender has calculated that based on a repayment mortgage of £150,000 and a fixed rate deal reduced to 3.79% from 3.99%, current account customers could save £197 in the first year and save £395 within two years.

On an interest only mortgage of £150,000 at 3.79% current account customers could save £301 in the first year, and £603 within two years.

Stephen Noakes, head of mortgages at Lloyds TSB, says: “Rewarding our current account customers by helping to reduce the costs of their mortgage payments is just one of the ways Lloyds TSB will continue to develop deeper relationships with our customers in these still challenging times.”

Current account customers with Lloyds TSB can access the deal by visiting a Lloyds TSB branch or by phone.

 

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  • Paul Shephard 21st April 2010 at 5:35 pm

    what a great way to get the housing market going again !!!! … i have a client today that wants to borrow 90% on a split interest only (upto 75%) and repayment,however lloyds have decided they do not do this anymore !!! …what a joke … try helping the people that really need it and that have paid there taxes to bail you out ..,.what a joke these state owned lenders are !!!

  • Mark Finnegan 21st April 2010 at 2:54 pm

    Their rates still won’t be competitive, but no doubt they’ll manage to flog them to unsuspecting loyal customers (who should be talking to brokers).

  • Andy Alcock 21st April 2010 at 1:50 pm

    I feel sure this will impress the current loyal account holders with mortgages at the bank, who apparantly will not get the discount. I feel equally sure that existing account holders depositing less than a £1000 per month who would perhaps benfit more from the discount will also be delighted. Treating customers fairly?