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Lloyds Bank introduces £1,000 cashback, Marsden BS and Leeds BS tweak products – roundup

  • 21/08/2018
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Lloyds Bank introduces £1,000 cashback, Marsden BS and Leeds BS tweak products – roundup
Lloyds Bank has launched up to £1,000 cashback on remortgages for direct customers, while Marsden Building Society has cut fixed rates and Legal and General Mortgage Club has expanded its holiday buy-to-let offering with Leeds Building Society.


Lloyds Bank

Lloyds Bank is refunding one monthly mortgage payment of up to £1,000 to customers who remortgage from another lender.

The offer is available for customers who apply for a mortgage by 21 October 2018 directly through the bank and is not open to applications through brokers.

Customers will also receive free basic legal services and property assessment, no mortgage account fee and no product fee on selected mortgages.

Club Lloyds customers will receive a 0.2% discount on their fixed rate.


Legal & General Mortgage Club

Legal & General Mortgage Club has expanded its offering in an exclusive holiday buy-to-let deal with Leeds Building Society.

The product is available on a five-year fixed rate at 2.74% at 70% loan-to-value (LTV), with a maximum loan amount of £500,000.

It benefits from an annual 10% penalty free capital over-repayment and is available for both purchase and remortgaging applications. Further incentives included a no fee valuation.

Danny Belton, head of lender relationships at Legal and General Mortgage Club, said: “Holiday buy-to-let has largely been in the domain of regional building societies and specialist lenders.

“However, in recent years, we’ve seen an increase in the number of lenders offering products in this sector and we’re delighted to work with Leeds Building Society to build and support this proposition while providing exclusive products to our members.”

Martese Carton, head of intermediary distribution at Leeds Building Society said the lender was seeing a surge in demand for holiday lets.

“We hope that this exclusive holiday buy to let product with Legal & General Mortgage Club will help more advisers secure the right product for their clients’ needs.”


Marsden BS

Marsden BS has reduced some of its fixed rates and added fee free cashback products to support first-time buyers.

Product changes sees the withdrawal of four 95% loan-to-value (LTV) mortgage products and the introduction of two new ones to the Marsden residential range.

General manager Heather Crinion said: “We are always innovating for first-time buyers and want to provide good support for intermediaries and their clients. Our new reduced 95% LTV products start at 2.79% and we’ve also introduced a fee free option with £300 cashback.”

“Making that first step onto the property ladder is difficult so we want to help support intermediaries and their clients who are looking for the right products to suit their needs.”

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