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Lloyds Bank mortgage review

We've combined expert analysis with customer feedback to help you decide whether to get a mortgage with Lloyds Bank.

In this article
Lloyds Bank mortgage customer ratings What kinds of mortgages does Lloyds Bank offer?  Does Lloyds Bank offer the best mortgage deals? Interest rates on Lloyds Bank mortgages
How much could I borrow from Lloyds Bank? Can I make overpayments? How can I contact Lloyds Bank?

Lloyds Bank mortgage customer ratings

Mortgages
Lloyds Bank Review
Which? Customer Score
Joint 8th out of 16 mortgage lenders
71%
Which?'s rating for customer satisfaction, based on feedback from real customers. The score is made up of a customer's overall satisfaction with the brand, and how likely they are to recommend that brand.
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£5 for first month then £9.99/month unless cancelled

 

Lloyds Bank is part of Lloyds Banking Group, which also includes Halifax, Bank of Scotland and Scottish Widows. 

The table below shows how Lloyds Bank performed in our latest mortgage satisfaction survey, from application process to value for money.

Customer rating for: Star Rating
Customer service in general

4 out of 5

Value for money 

4 out of 5

Keeping you well informed 

4 out of 5

Clarity of mortgage statements

4 out of 5

Transparency of charges

4 out of 5

Query and complaint handling

4 out of 5

Ability to overpay or underpay mortgage

4 out of 5

Online access

4 out of 5

 

Star ratings based on a July 2021 Which? survey of 3504 members of the general public in which 244 people told us that they had their mortgage with Lloyds Bank.

What kinds of mortgages does Lloyds Bank offer? 

When we checked in September 2021, there were 160 mortgages available from Lloyds. All were fixed-rate deals - meaning your interest rate will stay the same for a set initial period.

Lloyds' mortgages came with a initial period of either two, five or 10 years. 

 

Does Lloyds Bank offer the best mortgage deals?

Our experts analysed hundreds of mortgages over a four-week period in July and August 2021. They compiled a total of 206 ‘top-10 cheapest deal’ tables based on a variety of borrowing scenarios, and counted how many times each lender featured in a table.

The average number of times a lender made it into a table was 24, but Lloyds didn't feature at all, meaning it didn't offer market-leading rates in any of our scenarios. (Data source: Moneyfacts.)

Interest rates on Lloyds Bank mortgages

In September 2021, the average rate on a two-year fixed-rate mortgage from Lloyds was 2.18%, compared to the overall market average of 2.38%.

How much could I borrow from Lloyds Bank?

Lloyds will lend to first-time buyers and home movers at 60%, 75%, 80%, 85%, 90% and 95% loan-to-value. People remortgaging can borrow up to 85%. 

Lloyds doesn't publish its borrowing caps and doesn't deal with mortgage brokers, so you'll need to speak to the lender directly about how much you might be able to borrow in relation to your annual salary.

Can I make overpayments?

Lloyds' deals allow you to overpay up to 10% of the mortgage balance each year. 

How can I contact Lloyds Bank?

Lloyds Bank mortgages are only available directly, so you won't be able to access them through a mortgage broker.

Lloyds Bank can be contacted on 0800 783 3534.

Its website is lloydsbank.com.

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