Lend a Hand 5-Year Fixed-Rate Mortgage

Small deposit	Lower monthly repayments	For first-time buyers, those moving or remortgaging
Apply for a Lend a Hand mortgage at your local branch, or call us on: 01534 845436 or 01534 845269 Jersey 01481 706317 Guernsey 01624 697113 Isle of Man 01481 822340 Alderney

Main features and benefits

• During the 5-year fixed-rate period your payments stay the same so they're easier to manage.
• You'll need a cash deposit of 5% of the property value.
• You'll also need the backing of someone who wants to help you by putting their savings up as additional security for the mortgage.
• They'll need savings equal to 20% of the property value.
• You can then benefit from the lower mortgage rates normally for those with 25% deposits.
• If you have more than 5% as a deposit, your Helper can put less than 20% into the savings account.

YOUR HOME IS AT RISK IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR OTHER LOAN SECURED ON IT. Lending is at the Bank's discretion and you must be 18 or over to apply. Security will be required..

Valuation fee
If you're buying a property you'll need to pay a valuation fee when you apply. The fee amount depends on the value of the property. Ask your mortgage advisor in branch for more details.

Commitment fee
There is a £799 non-refundable commitment fee payable if you are taking out a mortgage with us. This is payable before we formally offer a mortgage to you.

Helper's legal advice
Because your Helper will be making a major financial commitment, it is essential they get independent legal advice, and we require written confirmation that they have done so from the solicitor who advises them. The solicitor will charge the Helper a fee for this.

Early Repayment Charges
As the Lend a Hand mortgage is a 5 year Fixed rate mortgage, the early repayment will be equal to one month's interest for every whole or part year of the Fixed Rate period outstanding, with a minimum of three months applied.

What happens when the fixed-rate period ends?
Please check the date the rate is fixed until as, depending on when your loan starts, it may not be exactly 5 years — it may be slightly more or slightly less. After the fixed-rate period your loan will switch to the Standard Variable Mortgage Rate, which at that time, could be higher or lower than the rate you will have been paying and may vary over the remaining term of your mortgage. You may be able to take advantage of a different mortgage deal at that time.

If the savings of the Helper are still required at this stage the security agreement will remain in place until the 5 year term on the savings account has finished, and the mortgage has dropped to 90% or less of the property's value. You can then ask us to release the savings.

How do I apply?

If you've decided that you're ready to talk — then book an appointment with a mortgage expert at your local Lloyds TSB branch. And because your Helpers are going to be involved, it may be useful for them to be there with you. We also think that, because this is such an important step — with a major financial commitment on your Helper's part — it's crucial for them to get independent legal advice. Speak to a Mortgage Expert Talk through your options by visiting your branch.