Help to Buy rates continue to disappoint, with Lloyds Bank announcing a new two-year fix that is pricier than a string of 95% LTV rates already on the market.
The two-year fix will costs some borrowers as much as 5.79%.
That is a full percentage point higher than the cheapest Help to Buy deal, a two-year fix from HSBC charging 4.79% with a £99 booking fee.
Homebuyers who have a current account with Lloyds Bank can get a two-year fix through Help to Buy charging 5.19%, with a £995 fee.
Other applicants will pay 5.39%, again, with a £995 fee.
Both deals are available up to 95% LTV.
Lloyds also offers two zero-fee options. Homebuyers with the Lloyds bank current account will pay 5.59%, other applicants will pay that 5.79% rate.
Several regional lenders are also offering cheaper rates. Ipswich Building Society, for example, offers a two-year fixed rate for first-time buyers charging 4.89%.
First-time buyers and homemovers can apply for the Lloyds deals from today.
Mortgages director Marc Page said: "Today’s announcement launches our participation in the Help to Buy scheme and allows us to make mortgages more accessible for more people.
"The scheme has so far been successful in helping people onto the ladder, and it has also given existing homeowners more options, allowing them to move forward and take the next steps to their second and third properties.”
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