Lloyds TSB Scotland mortgage 'available to the majority of movers'

Date:Wednesday 6th October 2010
Author: Max Freedman

A new Lloyds TSB Scotland mortgage is open to most home movers, according to a source at the firm.

Carol Anderson, head of mortgages at the company, made her remarks about a three-year fixed-rate available at the organisation's branches, as well as at Cheltenham and Gloucester outlets.

She said: "This is our lowest three-year fixed-rate ever, which will be available to the majority of home movers."

Research by the Council of Mortgage Lenders cited by the institution indicated the average deposit was 33 per cent in July 2010.

The Lloyds TSB Scotland mortgage is available at up to 70 per cent loan to value and the interest is 3.99 per cent, with free conveyancing and fee-free legal advice for applications made in October.

However, there is an £895 product charge.

This week, Norwich and Peterborough Building Society unveiled two new products for deals up to 85 per cent and 80 per cent, which it stated are the best arrangements in their respective categories.