MortgagesOct 23 2014

Lloyds cuts 90% LTV mortgages

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From tomorrow (24 October) Lloyds Bank will cut rates on its 2-year fixed rate on 90 per cent loan-to-value mortgages for first-time buyers and homemovers.

Customers will now be able to benefit from the following rates: a 2-year fixed rate at 90 per cent LTV reduced to 3.59 per cent with £495 fee for Club Lloyds customers, down from 4.34 per cent.

The lender is also offering a 2-year fixed rate at 90 per cent LTV reduced to 3.99 per cent and without a fee for Club Lloyds customers, down from 4.74 per cent.

Andy Hulme, mortgages director at Lloyds Bank, said: “This latest set of rate reductions will provide further support to those people buying houses with smaller deposits, helping to make their repayments more affordable each month.”

Lloyds is also rewarding customer loyalty by offering customers with a Club Lloyds current account a mortgage rate reduction of 0.2 per cent.

peter.walker@ft.com