Lloyds TSB launches 3.29% fixed-rate mortgage

Lloyds TSB launches 3.29% fixed-rate mortgage

Lloyds TSB has launched a range of new fixed-rate mortgages with interest rates starting at 3.29%.

This headline rate is available on two-year deals with a loan to value (LTV) of 60% or below.

Other new products include a 3.99% two year fixed-rate mortgage at 75% LTV, and a 4.99% five year fixed-rate product, also at 75% LTV.

Stephen Noakes, Lloyds TSB’s commercial director of mortgages, said: “More than two-thirds of our customers are currently choosing fixed rates for remortgage and house purchase, to benefit from locking in while mortgage prices are bottoming out.”

In related news, a report last month by the Royal Institute of Chartered Surveyors revealed that new buyer inquiries had increased for the fourth month in a row.

However, during the same month mortgage lending dropped to an eight year low.

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