Compare Mortgages

 

 

Already have a Lloyds Bank mortgage?

If you already have a Lloyds Bank mortgage and are looking to switch to a new deal, please visit our switching deals page.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Please note that this mortgage payment calculator is for illustrative purposes only. This information does not contain all of the details you need to choose a mortgage. Make sure that you read the separate key facts illustration before you make a decision.

Compare and select mortgages

Optional: If you want to see how much your monthly payments could be, you can also fill these in.

The monthly payments shown are for the initial product period and do not include any mortgage related fees you may add to your overall mortgage. If you are choosing additional borrowing, the payment is based on the amount of additional borrowing and the loan to value of the overall mortgage amount.

The actual rate available will depend upon your circumstances. Ask for a personalised illustration.

This information does not contain all of the details you need to choose a mortgage. Make sure that you read the separate key facts illustration before you make a decision.

This is the name of the mortgage product. Most deals and products vary based on the loan to value range you are seeking.Mortgage nameSortThis is the loan to value range. The loan to value ratio is the amount of money you want to borrow compared with the value of the property, shown as a percentage. See definitions below for more information.Loan to valueSortThis column shows the rate your mortgage will start on. This is usually a fixed rate or a special variable or tracker rate, so it includes the date that this initial rate will last until. Low initial rates may represent a good deal.Initial rateSortThis is the rate you will move onto when your initial mortgage rate ends. See definitions below for more information.Followed bySortAPR stands for Annual Percentage Rate and takes into account all the costs of a loan – giving you the overall cost for comparison. See definitions below for more information.The overall cost for comparison isSortThe product fee that applies to the mortgage deal is shown here, and will be added to your new mortgage when it starts. Low fees may represent a good deal. See definitions below for more information.Product feeSortThis column shows whether early repayment charges are payable and the date that they apply until. Some mortgages do not have early repayment charges and this will be noted here. See definitions below for more information.Early repayment chargesSortThe monthly payment (whether for a repayment or an interest-only mortgage) shown is for the initial product period and does not include any mortgage related fees you may add to your overall mortgage. The actual rate available will depend upon your circumstances. Ask for a personalised illustration.Monthly illustrative paymentSort

JavaScript must be enabled to use this tool. To enable JavaScript, access your browser settings, turn JavaScript on and then refresh the page.

Things to bear in mind

  • If a product fee applies, it will be added to your mortgage. No interest will be charged if you pay the fee within 30 days of your mortgage starting. If you choose not to pay the fee immediately, interest will be charged as part of your main mortgage, and this will affect your monthly payments.
  • Mortgage deals often change, so if you’re returning to look at a product that you were interested in before, the pages shown are updated with the latest ones available.
  • These mortgages can be withdrawn at any time. Funds can only be reserved when we have your completed application.
  • Lloyds Bank tracks the Bank of England bank rate.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Terms explained

Buy-to-Let Variable Rate (BTLVR)

The Buy-to-Let Variable Rate (BTLVR) is relevant to all current Lloyds Bank Buy-to-let mortgages. This is the rate that will apply when your initial deal period ends, if you applied for a Buy-to-let mortgage deal on or after 1 June 2010. The Buy-To-Let Variable Rate could be higher or lower than the rate you have been paying and may vary over the remaining term of your mortgage.

Buyer types

  • House purchase - if you’re borrowing money to buy a home.
  • Remortgage - if you're moving your mortgage from another lender without moving home.
  • Switching deals - if you’re an existing Lloyds Bank mortgage customer and would like to switch deals.
  • Additional borrowing - if you’re an existing Lloyds Bank mortgage customer and would like to borrow more money from the equity in your home. Equity is the value of your property minus any mortgage balances that you owe.
  • Buy-to-let - if you’re borrowing money to purchase a property for rent or are looking to remortgage an existing buy-to-let property. For all other buy-to-let borrowing please call 0800 783 3534.

Early repayment charges

Sometimes early repayment charges are payable and apply until a specified date. So if you repay your mortgage in full, or repay more than 10% in any year, you may be charged a fee that will be a certain percentage of the amount you repay. Some mortgages do not have early repayment charges, which is useful to know if you plan to repay your mortgage early.

Homeowner Variable Rate (HVR)

If you have applied for a residential mortgage with us on or after 1 June 2010 and you have chosen a new mortgage product, the Homeowner Variable Rate is the rate you’ll automatically switch to at the end of your deal. At that time, it could be higher or lower than the rate you have been on and may vary over the remaining term of your mortgage.

Interest only mortgages

If you choose the interest-only option for any part of your mortgage, the monthly payments you make will only cover the interest on the loan, you wont actually be reducing the loan itself. This means that at the end of the mortgage term you'll still owe the full amount of the loan. This type of mortgage does not pay back any of the money you have borrowed during the mortgage term.

As long as you’ve made all your monthly interest payments on time, the amount you owe at the end of the mortgage term will be the same as the amount you borrowed. To repay the loan you need a lump sum at the end of this term. With an interest-only mortgage you will need to make sure you have put plans in place to pay off everything you owe at the end of your term, for example an investment or savings plan. You’ll also need to take the cost of doing this into account when comparing the costs of interest-only and repayment mortgages.

An interest-only mortgage is a higher risk than a repayment mortgage. In most cases, there is no guarantee that you will be in a position to fully repay the loan amount you owe at the end of the term.

Loan to value (LTV)

When you apply for a mortgage the amount of money you want to borrow is compared with the value of the property, and often referred to as the loan to value (LTV) ratio. It is expressed as a percentage. For example, if you want to borrow £150,000 and the property is worth £200,000, the loan to value is 75% (£150,000 divided by £200,000). This means that you will need to raise a 25% deposit (£50,000) in order to buy the property.

The LTV is one of the key factors a lender will consider before agreeing a mortgage. The lower the percentage LTV, the more favourable your interest rate might be. To do this and achieve a better rate, you will need to reduce the amount you want to borrow by increasing the amount of money you put into buying your home (i.e. your deposit).

Mortgage types

  • A fixed-rate mortgage will help you to budget more easily around your mortgage costs, as your interest rate will stay the same each month, whatever happens to interest rates generally, until a set date.
  • Tracker (variable) mortgages move in line with the Bank of England bank rate, so your monthly payments could go up or down (within one month) depending on how the bank rate moves.

Overall cost for comparison (APR)

APR stands for Annual Percentage Rate and takes into account all the costs of a loan – giving you the overall cost for comparison. An APR is calculated in a standard way to allow you to compare different mortgage offers, including those from other lenders. The APR includes important factors such as:

  • the initial interest rate you must pay,
  • how you repay the loan,
  • the full length of the mortgage term,
  • frequency and timing of mortgage payments,
  • certain fees associated with the mortgage.

It is important to remember that these APRs are calculated using average figures so each individual loan will have a slightly different APR. The actual APR that will apply to your mortgage will be calculated when you get a personalised quote.

Product fees

If applicable the product fee that applies to a mortgage deal will be added to your new mortgage when it starts.

  • You can choose to pay the fee off within 30 days without interest being charged on it.
  • Or you could leave it on your mortgage to spread the cost - however interest will then be charged on it as part of your mortgage.
  • There are some mortgages with no product fees.

Repayment mortgages

When you have a repayment mortgage, the monthly payment you make gradually pays off both the amount you borrowed as well as the interest on the loan. As long as you make all your monthly payments when they’re due, the loan amount is guaranteed to be fully repaid at the end of the term. The longer your term, the lower your monthly payments will be, but you will pay more interest overall.

If all of your mortgage is on a repayment basis, the most you can apply to borrow is 90% of the property's current valuation (or 90% of the purchase price if lower), unless you are buying a new-build property or you’re switching your mortgage to us from another lender and borrowing more at the same time, in which case the most you can borrow is 80% of the property's current valuation.