Lloyds Bank has cut rates on 90 per cent loan-to-value mortgages for first-time buyers and home movers.
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.”
Key features:
• Two-year fixed rate mortgage at 90 per cent LTV is reduced to 3.95 per cent with a £495 fee for customers with a Club Lloyds current account.
• Two-year fixed rate mortgage at 90 per cent LTV is reduced to 3.99 per cent with no fee for Club Lloyds customers.
IFA verdict:
Alexander Reynolds, IFA for London-based Advies Private Clients, said: “It is not a particularly competitive rate – there are deals out there for 3.5 per cent and 3.75 per cent.
“Obviously if you are a Lloyds current account customer there would probably be slightly more flexibility.”
