LloydsTSB Airmiles mortgage

Sim_2

Hi,

LloydsTSB currently have some very competative fixed rate mortgages on offer. Their Airmiles 5-year fix at 5.69% seems very good to me http://www.lloydstsb.com/mortgages/special_offers/airmiles_mortgage.asp - but is there some catch? Why does this deal not appear on any of the best buy tables or discussions I can find on-line. Is there something in the smallprint?

S

beecher

It is only for those needing 60% LTV and the £1000 fee is quite hefty in comparison to others. The no fee at 6.09% looks more attractive, but obviously that depends on the size of mortgage.

Sim_2

beecher wrote: »

It is only for those needing 60% LTV and the £1000 fee is quite hefty in comparison to others. The no fee at 6.09% looks more attractive, but obviously that depends on the size of mortgage.

All depends on individual circumstances. In mine, need £151K over 20 years. LTV not an issue.

6.09% no fee repayments £1090 pcm, outstanding at 60 months £127 950

5.69% with £999 added to mortgage (ie borrow £152K) repayments £1062 pcm, outstanding at 60 months £127 927

So pay £1680 less over 5 years owe £33 less at the end of the fixed rate by adding £999 to the mortgage - in the mortgage market nothing is as is seems.