Lloyds mortgages review, rates and comparison

Lloyds offers a range of fixed and variable rate mortgages that could be suitable for you.

Updated

Fact checked
compare Lloyds
Customers say
★★★★★
Customer satisfaction
Many customers praise "friendly and helpful" staff
Not always at the top of the table for rates

Lloyds Bank was founded in 1765 and offers a comprehensive range of financial products and services to customers across Britain. Their mortgage packages are suitably varied; first-home buyers, mortgage switchers and current or potential landlords alike will find plenty of options available.

Compare Lloyds Bank mortgages

Data indicated here is updated regularly
Name Product Initial rate Revert rate (SVR) Maximum LTV Overall cost for comparison Apply link
Lloyds Bank 31/08/2022 Fixed
Lloyds Bank
1.09% fixed until 31/08/2022
3.59% (variable)
60%
3.5% APRC
Lloyds Bank 31/08/2022 Fixed
Lloyds Bank
1.09% fixed until 31/08/2022
3.59% (variable)
60%
3.5% APRC
Lloyds Bank 31/08/2022 Fixed
Lloyds Bank
1.13% fixed until 31/08/2022
3.59% (variable)
60%
3.4% APRC
Lloyds Bank 31/08/2022 Fixed
Lloyds Bank
1.13% fixed until 31/08/2022
3.59% (variable)
60%
3.4% APRC
Lloyds Bank 31/08/2022 Fixed
Lloyds Bank
1.17% fixed until 31/08/2022
3.59% (variable)
75%
3.5% APRC
Lloyds Bank 31/08/2022 Fixed
Lloyds Bank
1.17% fixed until 31/08/2022
3.59% (variable)
75%
3.5% APRC
Lloyds Bank 31/08/2022 Fixed
Lloyds Bank
1.21% fixed until 31/08/2022
3.59% (variable)
75%
3.4% APRC
Lloyds Bank 31/08/2022 Fixed
Lloyds Bank
1.21% fixed until 31/08/2022
3.59% (variable)
75%
3.4% APRC
Lloyds Bank 31/08/2025 Fixed
Lloyds Bank
1.33% fixed until 31/08/2025
3.59% (variable)
60%
3% APRC
Lloyds Bank 31/08/2022 Fixed
Lloyds Bank
1.33% fixed until 31/08/2022
3.59% (variable)
60%
3.5% APRC
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Overall representative example
If you borrow £170,000 over a 25-year term at 1.75% p.a. (fixed) for 62 months reverting to 4.74% p.a. (variable) for the remaining term, you would make 62 monthly payments of £700.04 and 238 monthly payments of £912.95. The total payable would be £261,424.58, which includes interest of £90,685 and a product fee of £495. The overall cost for comparison is 3.6% APRC representative.
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.

What types of mortgages can I get with Lloyds?

  • Fixed rate Your interest rate will remain fixed for a set amount of time, providing certainty as far as the size of your mortgage payments.
  • Remortgages You can switch your existing mortage to Lloyds Bank via one of its remortgage products.
  • Interest-only Your monthly repayments will only take mortgage interest into account. You’ll repay the capital at the end of the mortgage term.
  • Offset You’ll use the funds in your Lloyds Bank savings account to offset the amount of your mortgage balance you pay interest on
  • Buy to let This mortgage allows you to borrow money to purchase an additinal property and let it out to tenants.
  • Shared ownership This mortgage allows you to buy a percentage of a property and pay rent on the remainder. You can then apply to buy additional percentages of the property as and when you can afford to do so.

How to apply

You can apply online, calling 0800 783 3534 or visiting a local branch.

What information do I need to provide?

You’ll need to provide personal details and financial information. You might need to show payslips and/or bank statements to back this up. The lender will also want to see details of any existing debt you have.

Eligibility criteria

You must be aged between 18 and 75.

All applicants will be subject to an affordability test or credit check. Lloyds Bank has an affordability calculator on its website, which estimates how much you may be able to borrow. The maximum borrowing amount is £1,000,000.

Contact details

For general mortgage queries, call 0800 783 3534 or visit a local branch.

Lloyds mortgages customer reviews

Lloyds came fourth in the mortgages category in our 2020 customer satisfaction awards, with 4 out of 5 stars and 80% of customers saying they would recommend the service.

Here is some of the feedback we got from Lloyds mortgage customers:
“Really helpful and friendly mortgage advisors.”

“helpful friendly staff, very supportive.”

“There were a few teething problems with a change of manager, but then they got their act together and did a good job.”

“Reliable, but frustrating customer service.”

“It’s a great brand, premium services, trustworthy and easy to deal with.”

Online reviews for Lloyds mortgages (updated 30 April 2020):
Things are not so rosy on customer review platform Trustpilot, where Lloyds as a bank has 1.7 out of 5 stars and a rating of Bad, based on more than 900 reviews.

The reviews include very differing experiences customers have had with the bank, with some reporting excellent service and helpful actions during difficult times, but most reporting poor service and lack of empathy.

Compare Lloyds using a mortgage broker

There are huge benefits to choosing to use a mortgage broker to help you get the right deal. They will do all of the hard work and research for you. They are experts in comparing the hundreds of loans and lenders out in the market based on your individual needs and eligibility, so you won’t have to worry about being forced into a deal. Your broker will also negotiate with your chosen lender on your behalf to make sure you are getting the right deal for you.

L&C work with over 80 different mortgage lenders, including Lloyds, giving you a great opportunity to compare different mortgage deals in the market. To apply for a mortgage through L&C click the link below.

L&C Mortgage Advice

London and Country Mortgage Experts

L&C is a specialist broker offering mortgage comparison & free advice.

  • Compare over 80 mortgage lenders
  • Fee FREE mortgage advice
  • Personal customer service from start to finish
  • Open 7 days a week
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The finder.com mortgage service is provided by London & Country Mortgages (L&C). Beazer House, Lower Bristol Road, Bath BA2 3BA.
L&C are authorised and regulated by the Financial Conduct Authority (reg no. 143002). Please note the FCA does not regulate most Buy to Let mortgages.

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Frequently asked questions

Mortgage ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

Our customer satisfaction scores (“Customers say”) are based on a survey of 750 customers carried out in December 2019.

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.

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