Money News
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%
24 August 2007 © Moneyextra.com
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