22 Apr

New mortgage announcement may be welcomed by homeowners

New mortgage announcement may be welcomed by homeowners

An announcement made by a bank concerning mortgage rates may be welcomed by homeowners in the UK.

Lloyds TSB has revealed it is now offering a 0.2 per cent reduction in its charges for those who hold a current account with it.

The discounts could lead to savings of hundreds of pounds a year, according to the firm - which is part of the Lloyds Banking Group and acquired HBOS in January 2009.

For example, in the first year of a home loan charged at 3.99 per cent on a fixed-rate deal for a house worth £150,000, people could save £197 as a result of the new deal.

Commenting on the development, head of mortgages at the organisation Stephen Noakes said: "Increasingly, we have also heard from our customers of their desire for added flexibility in mortgage products to help future-proofing mortgage commitments, which can be adapted and suited to their every changing need."

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