Would you like to become independent and have your own home? Is this your first big step and you need help with it? In that case Lloyds TSB offers a solution which has many great advantages and also favourable conditions.Characteristics:
- Professional and individual approach
- Flexibility
- Help and support
- Application fee
- Evaluation fee
- Great deals for first-time buyers
First time buyer guide
The journey to owing your own home can seem daunting. For that reason Lloyds TSB put together a guide which should help you with the whole process. It is not only full of great tips and advice but it also contains the legal process described step by step.The guide is available online but you can also request a paper copy of this guide which is included in a first-time buyer pack.
Mortgage types
Lloyds TSB offers two types of mortgages; these are fixed rates and trackers.If you want to budget more easily then fixed-rate mortgage can be ideal for you. It means that the repayments will stay the same each month until a set date.
Trackers on the other hand may change in line with the Bank of England bank rate. Your monthly payments could go up and down within 30 days of a base rate change. Generally, you can save money with this type of mortgage as you can benefit from the base rate change.
Also note that generally, you will need 10% deposit and 20% deposit for a new-build property. However, the bank may be able to offer you a special mortgage deal.
Read more at http://portal-loans.co.uk/lloyds-tsb-first-time-buyers-mortgages/
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