International Mortgage Service Important information

Residential property† in Great Britain, Spain*, France*, Portugal*, New Zealand and selected locations in Australia, Canada & USA.
For Hong Kong , Singapore and Dubai property loans, please click here for details: Hong Kong, Singapore, Dubai.

Interest Cost

For loans against property in Great Britain, Australia and New Zealand
- for loans in GBP, 1% p.a. over the prevailing Lloyds TSB UK Base Rate
- for loans in other currencies,1% p.a. over our Cost of Funds rate for the relevant currency*

For loans against property in USA and Canada
- for loans in GBP, 1.5% p.a. over the prevailing Lloyds TSB UK Base Rate;
- for loans in other currencies, 1.5% p.a. over our Cost of Funds rate of the relevant currency*;

For loans against property in France
- for loans in GBP, 1.25% p.a. over the prevailing Lloyds TSB UK Base Rate;
- for loans in other currencies, 1.25% p.a. over our Cost of Funds rate of the relevant currency*;

For loans against property in Spain and Portugal
- 1.25% p.a. over the Bank of England Base Rate for loans in GBP;
- 1.25% p.a. over the prevailing Euribor* rate for loans in Euro or relevant LIBOR rate* for loans in other currencies.

* Rates are normally floating, based on a 3-month period
Minimum loan

New loan application: USD150,000 or currency equivalent.
Further advances: USD50,000 or currency equivalent.
Loan term

Up to 30 years term or up to 70 years of age, whichever is earlier.
Financing

We will lend up to a maximum of 70% of the property purchase price or property valuation (whichever is lowest). If the mortgage is taken out in a currency other than that of the property or your main income then the maximum we will lend is 65% of the purchase price of property valuation (whichever is lowest).
Arrangement fee

Calculated as a percentage of the loan amount and payable upon acceptance of our formal offer letter and is non-refundable.
Property in Great Britain, France, Spain, Portugal, Australia, Canada and New Zealand: 0.5%
Property in USA: 1%
Commitment fee
(US property only)

0.3% of the loan amount upon acceptance of our formal offer letter and is non-refundable.
Legal fees

For client's account (both the borrower's and the bank's legal fees).
Valuation fee, stamp duties, taxes, communication charges and building insurance

For client's account.
Corporate/trust borrower handling fee

0.25% of the loan amount for clients who borrow via a company or trust structure, payable upon acceptance of our formal offer letter and is non-refundable. Offshore company registration fees may also be payable.
Currency switching

Subject to qualification criteria and availability which varies from time to time, when currency options are offered, two free switches per calender year. USD150 per switch thereafter.
Security

First legal charge or mortgage over the property.
Leasehold properties

Selected areas of Central London - minimum 30 years left to run after loan repayment date.

Elsewhere - minimum 50 years left to run after repayment date.
Letting/Rental

No additional charges or increase in interest rates but tenancies or lets beyond certain terms will require our formal, written authorisation and lower loan to value ratios may apply.
Repayment

Quarterly in arrears.
Early Repayment

No penalties for prepayment (except for fixed interest rate loans) and early repayment should normally coincide with the interest rollover date.
Pre-drawdown amendments

A handling fee of USD150 will be charged should borrowers wish to make any amendments to the loan offer letter after the letter has been issued and accepted.

† Please note that the service is principally designed for customers planning to purchase properties outside their country of residence. We can provide mortgages for owner occupation in Hong Kong and Singapore, but not in other countries. Other restrictions related to property use may also apply and details are available upon request.

Please also note that we would normally not provide financing for certain types of property such as serviced apartments, resorts, golf course properties, student accommodation or former local authority or public housing.

* Not available to corporate and trust structures as well as to those cases where the borrower(s) of the loan and the owner(s) of the property are not the same person(s). Foreign borrowers are required to obtain a Non-Resident Buyers' Identification Number (NIE) before purchasing a Spanish property and are advised to seek their own legal advice with regard to the application for a NIE.

The terms, conditions and fees outlined above are not all inclusive and are for indication only. They apply only to loan facilities that are issued and accepted from the date below and may be changed, amended or deleted without any prior notice. Please note that depending on the resident status and the tax regime of the borrower's country of residence, withholding tax may affect the cost to the borrower and Lloyds TSB's capacity to lend.
June 2008

 		 

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