Mortgage customers 'seeking flexibility'

Mortgage flexibility is highly important to UK consumers, a new study has indicated.

According to research conducted by Lloyds TSB, 68 per cent of homeowners believe flexibility is a key feature of any product.

Some 31 per cent of mortgagees surveyed said this had become even more crucial to them over the last year.

The current low interest rate environment, uncertainty over future economic policy and the potential for additional job losses were cited as the main contributors to this trend.

Stephen Noakes, head of mortgages at Lloyds TSB, said it is vital for many customers that their mortgage offers flexible features.

"Our research shows that customers want to have a greater degree of control over how much they pay, and have the opportunity to flex payments dependent on economic conditions," he stated.

"Our mortgages at Lloyds TSB have a variety of flexible benefits to help fit the changing needs of our customers."

Last week, This is Money claimed that Lloyds Banking Group is continuing to offer attractive savings interest rates.

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2010-05-04 13:50:10 © Moneyextra.com