Lloyds Bank is offering support to people moving home via a new cashback offer that could reach up to £1,000.
The bank said today it refund one month’s standard mortgage payment for qualifying homemovers, which is estimated to be £500 on average but could for up to £1,000.
The cashback offer will be available on all homemover mortgages from Lloyds Bank, up to 95 per cent loan-to-value (LTV), including the bank’s Help to Buy mortgage guarantee scheme products. Funds will be paid directly in to the bank account that pays the customers’ mortgage within 60 days of mortgage completion.
The offer, which is exclusive to homemovers, will run from today, 2 March, till 31 May 2015.
Andy Hulme, mortgages director at Lloyds Bank, said: “Offering cashback on a month’s mortgage payment is a great way to help homemovers settle into their new house and reduce their costs at what is an expensive time. Most people want to focus on the task of turning their new house into a home as quickly as possible, and a potential refund of up to £1,000 will help them do that.”
Furthermore, Lloyds Bank offers to any customer with a Club Lloyds current account mortgage rate reduction of 0.20 percentage points.
The bank has also announced a rate cut on two-year fixed products for first-time buyers.
