Product details
- 2 year fixed product
- Available to all Homebuyers and Remortgage customers, including First Time Buyers
- 1895 product fee
- 70% maximum loan to value
Research from Lloyds TSB has examined the market trends in fixed rate mortgages since their launch in 1989:
- 2007 was the most popular deal for fixed rates, accounting for 73% of lending. The average rate was 5.70%
- 2003 saw the lowest average fixed rate of 4.23%
- Fixed rate deals hit a peak of 13.85% in 1990
- In the first half of 2010, fixed rates accounted for 46% of all products
- The average fixed rate in the first half of 2010 was 4.62%
Stephen Noakes, commercial director of mortgages at Lloyds TSB comments:
"Twenty years on from the peak of fixed rate products, we're launching a new, market leading rate. Whether you're looking to buy a new home or remortgage to the stability of a fixed deal, this provides certainty of an attractive rate for two years."
Homebuyer customers will also benefit from the free Lloyds TSB Home Harmony service, to help them settle into their new home.
The product is available in branches of Lloyds TSB and Cheltenham and Gloucester.
