Lloyds Bank Fixed 2.54% until 30/11/2022
Which? customer score 65%
Assumed borrowing of £125,000 over 25 years, representative 3.4% APRC. Total amount payable: £185,241.16. Includes interest of £59,246.16, Valuation fee of £0, Booking fee of £0 and Administration fee of £995. Repayments: 61 monthly repayments of £563.29 at 2.54% (fixed), then 239 monthly repayments of £627.14 at 3.74% (variable).
Lloyds Bank customer satisfaction scorecard:
How do we work this out?| Clarity of statements | Flexibility of payments | Transparency of charges | Customer service | Overall customer score |
65%Fair |
Eligibility
| Maximum age | 75 |
|---|---|
| Minimum age | 18 |
| Location | Any |
| Restricted location note | N/A |
| Existing customer note | N/A |
| Eligibility notes | N/A |
Mortgage product details
| Mortgage types | Purchase |
|---|---|
| Deal type | Fixed |
| Tracker type | N/A |
| Payment options | Interest only, Repayment |
Mortgage product features
| Overpayments allowed | Yes |
|---|---|
| Overpayment limits note | Up to 10% of the amount owed at 1st January without having to pay an early repayment charge. |
| Offset mortgage | No |
| Help to Buy mortgage | No |
| Shared ownership mortgage | No |
| Shared equity mortgage | No |
| New-build mortgage | No |
| Self-build mortgage | No |
| Portable mortgage | Yes |
Product fees
| Arrangement fee | £995 |
|---|---|
| Arrangement fee can be added to loan | Yes |
| Booking fee | £0 |
| Telegraphic transfer fee | £35 |
| Insurance fee | £0 |
| Other fees | £0 |
Rate information
| Minimum borrowing amount | £5,000 |
|---|---|
| Maximum borrowing amount | £1,000,000 |
| Minimum term (years) | 1 |
| Maximum term (years) | 40 |
| Initial deal end date | 30.11.22 |
| Initial deal length (months) | 60 |
| APRC | 3.38% |
| Initial rate | 2.54% |
| Revert-to rate | 3.74% |
| Maximum LTV | 60.0% |
Other charges
| Exit fees | £0 |
|---|---|
| Valuation admin fee | £0 |
| Valuation fee | From £225 for property value above £25,000 |
| Early repayment note | 5% then 4% then 3% then 2% until end of fixed period |
Standard benefits
| Valuation admin fee excluded from any refund offer | Yes |
|---|---|
| Maximum free valuation | £0 |
| Cash back amount | £0 |
| Further notes about benefits | N/A |
Remortgage benefits
| Cash back on legal fees | No |
|---|---|
| Free legal work | No |
| Valuation offer | Payable |
Purchase mortgage benefits
| Cash back on legal fees | No |
|---|---|
| Free legal work | Yes |
| Valuation offer | Free |