Lloyds TSB has come up with a new ‘Easy Living’ mortgage product and the company claims that with this product the customers would never have to switch their mortgage again. As per its terms, the fee free full term discount home loan purchase offers a 1% lifetime discount on a standard variable rate loan of up to 90% of the value of the property and a 0.5% discount on loan to value of up to 95%. So for a high proportion loan it works out to a current rate of 5.75% or 6.25%.



The company claims that customers would not have to shift their mortgage every few years in order to get the best deals. With the Easy Living mortgage one can make early repayments, overpayments, switch between repayment and interest only. What else there is no lock in period and no legal fees, valuation fees or closing administration charge.