Two year fixes now start from 3.54% and five-year fixes from 4.24%.
New Build first-time buyer 85-90% LVT mortgage will also be reduced, and are now available from 3.74% with a £995 fee.
The cuts follow the launch of the Bank's 'Hassle Free' range aimed at first-time buyers, which takes care of mortgage arrangements and covers upfront costs including legals and valuations.
The two-year fixed rates start from 2.29% up to 60% LTV and 2.74% up to 75% LTV.
Lloyds Bank Mortgage Products Director, Andrew Mason, said: “Purchasing a home for the first time is an important step in everyone’s life and Lloyds Bank is committed to helping first-time buyers climb onto the property ladder. In April we launched our ‘hassle free’ mortgage offer to take some of the stress out of moving home, which gives first-time buyers – as well as home movers and those seeking to remortgage - help with legal and administration costs, plus expert advice to make it easier for them to secure a mortgage. These latest rate reductions will provide first-time buyers with a further helping hand to support them in purchasing that all important first property.”
