Lloyds TSB mortgage deal launched

Date:Thursday 5th February 2009
Author: Susanna Kavka

A new Lloyds TSB mortgage product has been launched, the lender announced.

The 2012 deal for fixed-rate, three-year mortgages has among its features a £100 discount on the fee and an equal donation from the bank to Team GB and Paralympics GB for the London 2012 Olympic and Paralympic Games.

Marketing director of Lloyds TSB Mortgages, Stephen Noakes, stated: "This deal allows homeowners to use their essential mortgage spending to make a financial contribution towards the future success of our elite athletes, at no extra cost to themselves."

This week, the lender also announced that it would pass on any reduction in the base rate to its borrowers.

With the base rate now reduced by 50 basis points to reach one per cent, Lloyds TSB responded with a statement.

"Today's cut means that the UK needs to be ready to face a period where the ability of base rates to be used as a lever on the economy is almost entirely diminished," it said.