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Lloyds TSB launches 18-month fixed rate mortgage

UK-based Lloyds TSB, a banking and insurance group, has introduced a new range of 18-month fixed rate products, with rates starting from as low as 5.99.

Richard Rowntree, head of network mortgage sales operations at Lloyds TSB, said: This range caters for the new breed of ‘wait and see’ homeowner. Some customers crave the stability of a fixed rate deal but believe the interest rate environment will look different by 2009 and want the opportunity to take advantage of any falls. With these products customers have the security of knowing their monthly payments are fixed but also have the option to reassess their situation in eighteen months’ time.