Remortgage Terms and Conditions for residential properties in England, Scotland and Wales
- Minimum loan
- Loan term
- Financing
- Loan currency and switching
- Interest cost
- Interest only
- Arrangement fee
- Legal and valuation costs, search indemnity insurance (replaces local search)
- Land registration, chaps fees and any other non-standard disbursements
- Repayment
- Early repayment
- Security
- Leasehold properties
- Letting/Rental
- Building Insurance
- Documentation requirements
Where a dual currency loan is granted, two free currency switches are offered per calendar year and a fee of USD150 per switch applies thereafter.
| Maximum LTV | |||
| 50% | 60% | 70% | |
| Great Britain | 2.49% / 2.69% | 2.69% / 2.89% | 2.99% / 3.19% |
The interest rate margins shown in bold are for loans taken in the currency of the property location. The interest rate margins shown in regular font are for loans taken in the currency of the applicant's primary income. Rates are normally floating, based on a 3-month period. For information on our interest rates, please visit our website http://www.lloydstsb-asia.com/rate/loan.asp.
For properties valued below GBP1million a flat fee of GBP500 will be payable in respect of legal and valuation costs.
For properties valued in excess of GBP1million, a full valuation report is required.
All valuation and legal fees will be payable by the customer.
| • | 3% of the amount being repaid within the first 12 months of drawdown (Year 1) |
| • | 2% of the amount being repaid within the following 12 months (Year 2) |
| • | 1% of the amount being repaid within the following 12 months (Year 3) |
Following month 36, no Early Repayment Charge will apply to either partial or full repayment of the loan.
| 1. | Photocopy of ID Cards or passports (with photo and signature pages) of borrower(s)/owner(s) together with residential address proof. e.g. utility bills. |
| 2. | Proof of income i.e. copy of latest 2 years tax return/assessments, latest salary advice, employment contract or confirmation letter, last 2 years audited accounts, etc. |
| 3. | Latest month's deposit receipts, bank statements, investment valuation, etc as appropriate. |
| 4. | Copy existing tenancy or rental agreements or bank statements for all properties enjoying rental income. |
| 5. | Copies of up-to-date loan statement for property to be remortgaged and a copy of the title certificate (if available). |
| 6. | Copies of overdraft & current account statements. |
| 7. | Brief background of employing company (e.g. corporate brochure or website address if available). |
| 8. | Current building insurance. |
Please note exclusions:
- non – personal entities such as a company or trust
- complex legal cases
- owner's occupancy
- properties already mortgaged to Lloyds TSB branches in Asia
Important Notes
1. Whilst the above terms and conditions will also apply to loans which involve a change of title from single to married name, cases where a party will be added or removed to/from the title will be subject to an additional charge.
2. Additional costs may also be incurred with cases involving certain forms of third party guarantees.
3. Please note that exit penalty charges and accompanying legal fees, among other factors, may be involved with your existing lender when refinancing.
4. Please also note that forward exchange contracts may be taken out for settlement at interest roll-over dates, at our sole discretion.
Please note that the International Mortgage 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, former local authority or public housing, Defence Force property or similar.
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 tax regime of the borrower's country of residence, withholding tax implications may affect the interest cost to the borrower and Lloyds TSB's capacity to lend. You should obtain independent tax advice which specifically addresses your current personal tax position as well as any possible future changes to your residency or domicile for tax purposes. Lloyds TSB disclaims any responsibility for any tax liability which may be incurred as a result of taking up any of our products or services.
The above terms and conditions, which should be read in conjunction with the full IMS brochure, apply to loans via Lloyds TSB - Hong Kong and Singapore only.