Lloyds Bank offers £500 cashback to remortgage switchers

From today, remortgage customers switching to Lloyds Bank will receive £500 cashback towards any costs they might incur as a result of moving their mortgage.

Remortgage customers applying for a mortgage between 5th January and 1st March 2015, can also benefit from Lloyds’ dedicated switching service.

The Lloyds Bank Switcher Service offers customers a dedicated mortgage adviser and no charge for the valuation and basic legal fees, taking much of the cost and the hassle out of remortgaging.

Andy Hulme, Mortgages Director at Lloyds Bank, said: "Many people could save money by remortgaging but some may be put off by the initial costs involved. This latest offer helps by providing £500 towards any costs customers might incur by moving their mortgage.

“In addition, our popular mortgage Switcher Service tries to make switching to Lloyds Bank as easy as possible. Our customers receive a dedicated mortgage advisor and no charge for the valuation and basic legal costs, which is another example of our commitment to help those already on the property ladder.”

Lloyds Bank is also rewarding customer loyalty by offering exclusive access to rates on a range of products, including mortgages. Any customer with a Club Lloyds current account can receive a mortgage rate reduction of 0.20%.

Example remortgage rates from Lloyds Bank include:

2 year fixed at 0-60% LTV, 1.74% with £995 fee for Club Lloyds customers, 1.94% otherwise.

2 year fixed at 60-75% LTV, 2.04% with £995 fee for Club Lloyds customers, 2.24% otherwise.

2 year fixed at 80-85% LTV, 2.69% with £995 fee for Club Lloyds customers, 2.89% otherwise.