Buy To Let
Lloyds Bank launches first Help to Buy range
Lloyds Bank has become the latest lender to launch products under the Help to Buy mortgage guarantee scheme.
The bank will offer two products under the scheme with cheaper rates on offer to existing customers. A fee-free two-year fix will be available at 5.59% for Lloyds Bank current account customers and 5.79% for others.
Another two-year fix, with £995 fee, is on offer at 5.19% for existing customers and 5.39% for those without a Lloyds current account.
Fellow Lloyds Banking Group brands Halifax and Bank of Scotland have been offering products since the scheme’s launch in October.
Aldermore was the last lender to enter the scheme in December while HSBC, Halifax, Bank of Scotland, RBS, NatWest and Virgin Money are also participating. Santander has also confirmed its participation and will launch its first products on Thursday.
Marc Page, Lloyds Bank mortgages director, said: “Today’s announcement launches our participation in the Help to Buy scheme and allows us to make mortgages more accessible for more people.
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“The scheme has so far been successful in helping people onto the ladder, and it has also given existing home owners more options, allowing them to move forward and take the next steps to their second and third properties.”