Lloyds offers cashback and ‘adviser’ for remortgages

Lloyds offers cashback and ‘adviser’ for remortgages

Remortgage customers switching to Lloyds Bank will from today (5 January) receive £500 cashback towards any costs they might incur as a result of moving their mortgage.

Remortgage customers applying for a mortgage until 1 March 2015 can also benefit from Lloyds’ dedicated switching service, which offers a dedicated in-house “mortgage adviser” and no charge for the valuation and basic legal fees.

Andy Hulme, mortgages director at Lloyds Bank, admitted that many people are put off by the initial costs involved in switching mortgages.

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He said: “This latest offer helps by providing £500 towards any costs customers might incur by moving their mortgage.”

The bank is also rewarding customer loyalty by offering exclusive access to rates on a range of mortgages.

Any customer with a Club Lloyds current account can receive a mortgage rate reduction of 0.2 per cent.

Example remortgage rates from Lloyds Bank include a two-year fixed at 60 per cent loan-to-value, 1.74 per cent with £995 fee for Club Lloyds customers, with would be 1.94 per cent otherwise.