Lloyds TSB in new mortgage initiative

Effective immediately, Lloyds TSB is reducing the rate on its 2-year fixed rate mortgage and launching a further three new products 2 and 5-year fixed rate deals and a 2-year tracker.

The 2-year fix £1,999 fee up to 90% LTV, will now cost 5.79% was 5.88%. Meanwhile, a 2-year fix £999 fee up to 90% LTV, has just been launched - this deal charging 5.99%.

Also being made available is a 5-year fix £999 fee, up to 90% LTV and charging 5.99%.

Finally, the bank has launched a 2-year tracker fee £1,999 up to 90% LTV and charging 5.49% BBR - 0.26%.

The deals are available for loans from £25K to £1 million.

Early repayment charges ERC meanwhile are as follows: 2-year fixed rate and 2-year tracker - before 01/10/08 = 3%, 01/10/08 - 30/09/09 = 2%.

For the 5-year product the ERC is 5% before 01/10/08, 01/10/08 - 30/09/09 = 4%, 01/10/09 - 30/09/10 = 3%, 01/10/10 - 30/09/11 = 2%, 01/10/11 - 30/09/12 = 1%

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2007-08-24 08:29:53 © Moneyextra.com