Lloyds TSB and C&G cut fixed and tracker rates
by Gill Montia
Lloyds TSB and its mortgage subsidiary, Cheltenham & Gloucester (C&G), are cutting interest rates on two-year fixed-rate and tracker loans.
The lenders’ full-term tracker mortgages will see the maximum benefit, with rates reducing by 0.38%, to 5.95%. The maximum loan-to-value (LTV) ratio on these deals is 20%.
Interest on two-year fixed-rate loans with a maximum 90% LTV come down to 6.69%, and on two-year trackers with 75% LTV, to 5.89%.
A fee of £995 applies on all of the above.
Both Lloyds TSB and C&G have also launched a new product range for those needing to borrow between £50,000 and £250,000.
Borrowers with a 25% deposit can avail themselves of a two-year fixed-rate loan at 5.99% (£1,995 fee applies), or they may wish to consider a two-year tracker at 5.69%. The maximum LTV is 75% and the same £1,995 fee applies.
In related news, Lloyds TSB has announced a sharp fall in first-half profit.
In the six months to the end of June, the bank’s profit fell 70% on the same period of 2007.
The group wrote down £585 million in relation to risky assets and market volatility that impacted on it insurance arm.
Discuss this in the Finance Markets forums
Story link: Lloyds TSB and C&G cut fixed and tracker rates
Add to Bookmarks:
Related financial stories to: Lloyds TSB and C&G cut fixed and tracker rates
- Lloyds TSB and Woolwich up tracker rates
- Tracker mortgages provide strong competition for fixed-rates
- Nationwide raises interest on fixed-rate and tracker deals
- Abbey cuts a range of fixed-rates
- Woolwich cuts rates and launches lifetime tracker
- Lloyds TSB raises mortgage rates
- Cost of fixed-rates loans hits ten-year high
- Fixed-rates loans at eight-year high for new borrowers
- Tracker mortgage rates down as base rate cut to 4.5%
- HSBC cuts fixed rates by 0.56%
Previous: « British Airways gains on merger talks
Next: HIPs to be improved with new questionnaire »
Visited 1212 times, 3 so far today
