Lloyds Bank
About Lloyds Bank
Lloyds Banking Group is one of the UK’s largest financial services providers, having offered a wide range of products to millions of customers since 1765.
It is the parent company of some of the biggest financial institutions in the country, including:
According to figures released last summer (2023) by UK Finance, Lloyds Bank Group is the biggest mortgage lender in Britain, with a 16.8% market share across all of its brands.
What type of mortgages do they offer?
Across its network of banks and financial services providers, Lloyds Bank can offer the following types of mortgages:
- First-time buyer mortgages
- Mortgages for homemovers
- Remortgages
- Buy-to-let mortgages
- Later-life lending products
Fixed-rate mortgages with introductory rates periods of up to 10 years are available for residential borrowers, along with a range of trackers and other variable rate products.
Lloyds also offers exclusive deals for existing customers, including those who bank with them but don’t have a mortgage. For example, those with a ‘Club Lloyds’ current account can take advantage of a discount on their initial interest rate if they take out a mortgage.
What type of buy-to-let mortgages do Lloyds offer?
Lloyds’ buy-to-let mortgages are offered either through Halifax or BM Solutions, with the latter being its specialist brand for this type of mortgage agreement.
A range of fixed-rate mortgages with initial rates periods of 2-5 years are currently available through these lenders, along with specific products aimed at landlords who are remortgaging, looking for a let-to-buy arrangement, or raising capital for eco improvements.
What rates are currently available?
At the time of writing (April 2024), the lowest mortgage interest rates available from Lloyds Bank are through Halifax. Mortgage and remortgage deals with rates ranging between 4% and 5.5% are now available, but the exact deal you will qualify for with depend on several factors including:
- The loan-to-value (LTV) ratio
- Your credit history
- The type of mortgage you are applying for
The lowest rates are often reserved for customers who can put down higher deposits and have clean credit, while mortgage products with an upfront fee typically have a lower rate than ones without. Lloyds does, however, have products for most circumstances.
You can compare rates and deals from Lloyds Bank with their competitors from across the market for free on Teito below:
