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Lloyds launches new ‘hassle-free’ mortgage

Lloyds Bank has unveiled a new “hassle-free” mortgage designed to make moving easier and cover the upfront costs.

The deal includes free valuation, legal and mortgage account fees worth around £1,000.

It is designed to reduce stress and expense by taking care of customers' mortgage arrangements and covering the upfront costs.

The new product offers first-time buyers, home movers and remortgage customers a range of benefits.

The “hassle-free” offer applies to qualifying mortgages across the Lloyds Bank range, including:

Home mover two-year fixed rate to 60% LTV with zero fee charging 2.29% via Club Lloyds and 2.49% otherwise.

First time buyer two-year fixed rate to 75% LTV with zero fee at 2.79% through Club Lloyds and 2.99% otherwise.

Remortgage two-year fixed rate to 75% LTV with zero fee at 2.74% through Club Lloyds and 2.94% otherwise.

The new offer also includes buy-to-let properties to support those looking to buy their first property to rent out, or expanding their property portfolio.

Lloyds Bank’s dedicated mortgage and protection advisers will help customers navigate the mortgage process and arrange all the valuation and basic legal work.

They will also pay all upfront fees – worth over £1,000 - related to the mortgage application, including free purchase legals, free valuation for mortgage purposes and no mortgage account or product fees

Lloyds Bank Mortgage products director Andrew Mason said: “We want to help remove some of the stress and expense for customers who are ready to take their next step on the property ladder, whether they are looking to purchase their first ever property, buy a bigger family home, downsize or buy a property to rent out.”

Customers can also get an Agreement in Principle within 15 minutes without affecting their credit history.

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