Compare Lloyds Bank mortgages
Whatever you need a mortgage for, there are various options to choose from to help you find a loan that matches your requirements.
First Time Buyer mortgages
Getting your first mortgage can be a challenge, which is why many lenders provide mortgages specifically aimed at first time buyers. These will often allow you to borrow a larger percentage of your property’s value than normal, to help those struggling to get together a deposit.
Buy to Let mortgages
If you already have a mortgage and are over 25 you may be able to qualify for a buy to let mortgage with Lloyds Bank. This can be used towards buying a first rental property, or expanding your existing rental portfolio. Lloyds will allow you to take out up to three buy-to-let mortgages at once.
Remortgaging with Lloyds Bank
Remortgaging can allow you to reduce your monthly repayments by switching to a better deal, or let you borrow more, leaving you with a spare lump sum once your old mortgage is paid off. This can result in lower monthly costs for you or give you the extra cash you need for home improvements or other purposes.
Second charge mortgages
If have had a mortgage with Lloyds for at least six months, you may be eligible to increase your borrowing with a separate secured loan. This is often referred to as a second charge mortgage and can be cheaper than remortgaging if you already have a good deal on your existing mortgage.
To take out a second charge mortgage with Lloyds you must be borrowing a minimum of £10,000 and will need to be up-to-date with your payments for at least the last three months before you apply.
Loan to value ratio
Loan to value (LTV) ratio is a way of showing the amount you want to borrow as a percentage of the market value of the property you are borrowing against. Mortgage providers use this to assess how much they will be willing to lend you and how much of a risk the mortgage is likely to be for them.
Most lenders will tend to offer better interest rates on deals with a low LTV. So, if you borrow £50,000 on a £100,000 property (giving an LTV of 50%) you may find you are offered a better deal that if you need to borrow £80,000 on a £100,000 property (80% LTV).
Find the best deals on mortgage rates
Our mortgage calculator makes it easier to find a range of good value mortgage deals from across the market. All you need to do is plug in some basic details, including your reasons for borrowing, how much you need and how long for, and the calculator will show you top deals from across the market. Head to the top of the page to try it out.
