New Lloyds TSB mortgage rates launched

Date:Monday 12th January 2009
Author: Rachel Fletcher

New reduced mortgage rates from Lloyds TSB and Cheltenham & Gloucester come into force today.

Fixed mortgage rates are decreased by as much as 0.2 percentage points while new tracker mortgages are released tomorrow with rates of 0.3 percentage points less than before.

Under the new ranges, fixed mortgage rates begin at 3.69 per cent while the tracker range starts at 3.39 per cent.

There is also a ten-year fixed-rate deal with rates beginning at 4.99 per cent and a fee of £995.

Spokesperson Stephen Noakes commented: "Long-term fixed rates are an increasingly attractive option for homeowners who want to take full advantage by locking in at the bottom of the market."

Meanwhile, the Royal Bank of Scotland (RBS) and NatWest have cut their standard variable rate to 4.19 per cent, effective from February.

Chief executive of RBS Retail Banking, Paul Geddes, said that they have cut this rate by three per cent in the past four months.