Lloyds announces launch of new online remortgaging service

Lloyds announces launch of new online remortgaging service

Lloyds Bank has announced today that it has launched a new online remortgage service which will provide increased ease for those looking to switch their mortgage to Lloyds Bank.

Nick Edwards, Lloyds Bank Digital Director says: “If borrowers want to get a better deal on their existing mortgage by switching their lender, we want the process that they follow to be as simple and convenient as possible. We know from speaking to people who are thinking about moving their mortgage the most important factors are the rate that they are able to secure and the overall cost of the borrowing. These are now part of the first step in our application process so people don’t spend time providing information to then find out that they can’t get the specific mortgage rate they want.”


Borrowers looking to switch their existing mortgage to Lloyds Bank can use the bank’s online mortgage calculator to see if they could save money on their monthly mortgage payments. They can then apply online for an Agreement in Principle (AIP) in minutes which, if approved, provides an indication of whether the bank can lend the amount of money required.

Following the AIP, the full mortgage application can now be completed entirely online, with applicants able to upload documents electronically and self-select the type of mortgage, such as a variable or fixed term, and associated rate that they want. Taking around 30 minutes to complete the application, there is also a live webchat service provided to support with any questions that may arise during the process.

Nick adds: “By introducing a fully online application process we are further increasing the choice we provide for people in how they want to manage their mortgage and allowing them to decide when and where is most convenient.”

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Latest Comments

SecomTech
SecomTech 22 Jun 2017

AT Last...This was discussed years ago and there was a move towards landlords registering their bad tenants on a database..(can't remember where) It seems a logical step though our leaders will probably...

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Bertrand
Bertrand 02 Jun 2017

How about the Welsh Govt introducing a scheme to protect landlords against "rogue" tenants who are then taken to court for criminal damage to the properties they trash. Pretty unlikely I suspect and politically...

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AmberMorris
AmberMorris 25 May 2017

"Please don't pick a novelty tune-playing doorbell. They're not 'fun'. They're stupid." Laughed a lot to this. It's actually true, though.

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Oliver Conway
Oliver Conway 18 May 2017

Making a neat inventory is a good idea, but if the seller is not willing to provide it, can the buyer demand it?

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Bertrand
Bertrand 17 May 2017

First step to nationalisation of the private rented sector IMHO. Nanny state poking their noses into things yet again. I object, as a decent landlord, sometimes having to deal with some pretty awful tenants,...

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Izzy
Izzy 16 May 2017

This is such a great a post. I love the detail you've gone into. It's a very useful article for helping those who are looking at deciding which sector they would like to go into! When I first started investing...

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paul burnham
paul burnham 30 Apr 2017

Jeremy Corbyn's pledge that a Labour government would build 500,000 new council houses must electrify the general election campaign. Reliance on markets and the profit motive has brought huge housing-related...

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CommercialTrust
CommercialTrust 28 Apr 2017

Sadiq Khan?s announcement of an online database of landlords and letting agents who have been convicted of housing offences, appears on face value to be a variation of the already implemented Database

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warren
warren 26 Apr 2017

You're very welcome Mary! Glad you enjoyed them :)

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Mary Ward
Mary Ward 26 Apr 2017

Thank you for the wonderful ideas. First impressions can make or break a deal. It's sadly that many homeowners drop the kerb to create an off-street parking space.

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Tony Gimple
Tony Gimple 14 Apr 2017

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