The brand new range of mortgages has been designed specifically for buyers wishing to buy their home through a shared equity or shared ownership scheme, and importantly will provide a further option for first-time buyers looking to take their first step on the property ladder.
The two-year fixed rate mortgages, available in all Lloyds TSB branches from Tuesday 23October, will be open to first-time buyers, as well as homemovers and those wishing to remortgage. Rates start from 3.79% and products are available on all LTVs up to 90%.
In addition to launching this new range, Lloyds TSB is also cutting rates on a number of mortgages from Tuesday 23 October, including:
- Rates reduced on two-year fixed rate mortgages for homemovers and first-time buyers up to 75% LTV
- Rates reduced on selected two year fixed and trackers for homemovers and first-time buyers above 75% LTV
- Rates reduced on selected two and three year fixed and two year tracker for remortgages.
Stephen Noakes, Director of Mortgages, at Lloyds TSB, said:
"We are committed to making the housing market more accessible to first-time buyers. Shared equity and shared ownership schemes offer a secure and more affordable alternative to buying a home outright, and the schemes are an important part of the market for first-time buyers and homemovers.
"By adding these mortgages to our range we are hoping that we will be able to help more people realise their dream of home ownership."
