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Saturday 06th of February 2010
December 9, 2008    

Lloyds TSB launches new tracker range

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by Gill Montia
Lloyds TSB launches new tracker range

Lloyds TSB and its mortgage lending arm, Cheltenham & Gloucester (C&G), have launched a range of new tracker deals, with rates starting at 3.69%.

Two-year loans with a maximum 60% loan-to-value (LTV) ratio are available in the lender’s All Weather range as follows: 4.09% (base rate +2.09) £1995 fee applies; 4.19% (base rate +2.19) and a £995 fee.

There is also a full-term tracker with 60% LTV at 4.15% (base rate +2.15) and a £995 fee.

In the 75% LTV range two-year trackers are available at: 4.09% (base rate +2.09) a £1995 fee applies and the maximum loan is £250,000; 3.69% (base rate +1.69) fee calculated at 2.5% of the loan; 4.49% (base rate +2.49) a £995 fee applies.

The full term tracker rate for 75% LTV is 4.45% (base rate +2.45) and a £995 fee applies.

The “All Weather” option allows borrowers to switch to a Lloyds TSB or C&G fixed rate product at any time during the mortgage term, without incurring early repayment charges.

Lloyds TSB has promised to reduce its standard variable rate in line with cuts in the Bank of England’s base rate and will be passing on the full 1% of last week’s cut, from the beginning of January.

The group says the new tracker deals reflect a 0.4% fall in Libor, the rate at which banks lend to one another.

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