Lloyds TSB fixed-rate mortgage 'a market leader'

Date:Thursday 2nd September 2010
Author: Max Freedman

A new Lloyds TSB fixed-rate mortgage has been described by a finance expert at the organisation as a market leader.

Stephen Noakes, commercial director at the banking institution, made his remarks regarding a 2.94 per cent interest product that is available at up to 70 per cent loan to value.

The two-year Lloyds TSB fixed-rate mortgage also features a product fee of £1,895.

"Whether you're looking to buy a new home or remortgage to the stability of a fixed deal, this provides certainty of an attractive rate for two years," noted Mr Noakes.

The firm has encourage first-time buyers to consider the deal and pointed out that fixed-rate products hit their peak in 1990 at a massive 13.85 per cent interest.

Recently, the same company revealed that it had extended its Lend a Hand product, which means that it is not only available to people just getting on to the property ladder, but other borrowers in the market.