Lloyds Bank mortgage review

Is Lloyds Bank a good mortgage provider?

We analysed whether Lloyds Bank offers competitive mortgage rates and good customer service.

In our deals analysis, the lender rarely offered table-topping rates. 

It also achieved a middling rating for customer service. Its score of 68% placed it in 10th position out of 22 lenders in our survey.

Lloyds Bank Mortgages Review

	Score	Overall ranking
Which? Customer Score	70%	10th out of 22 mortgage lenders

Our Scores

Which? Customer Score

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.

Lloyds Bank customer satisfaction scores

The table below shows how Lloyds Bank performed in our latest mortgage satisfaction survey.

Our survey gathered feedback from existing Lloyds Bank customers about everything from the mortgage application process to value for money.

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What types of mortgage does Lloyds Bank offer?

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

LBG is the largest mortgage provider in the country, with a 19% share of the market in 2022, according to UK Finance. 

When we checked in September 2023, Lloyds Bank offered 114 mortgages. 

Most were fixed-rate deals, meaning your interest rate stays the same for a set initial period. Lloyds Bank mortgages had initial periods of two, five or 10 years.

A smaller number of mortgages offered by Lloyds were tracker deals, with initial terms lasting two years before reverting to the bank's standard variable rate.

Does Lloyds Bank offer the best mortgage deals?

Which? analysed thousands of mortgages over a four-week period in August 2023. 

We compiled a series of top 10 cheapest deals tables based on a variety of borrowing scenarios, and counted how many times each lender featured in a table.

The average was five appearances per week. However, Lloyds averaged just one appearance, meaning it rarely offered market-leading rates in our scenarios. (Data source: Moneyfacts.)

How much could I borrow from Lloyds Bank?

Lloyds Bank lends to first-time buyers and home movers at 60%, 75%, 80%, 85%, 90% and 95% loan-to-value (LTV). If you're remortgaging, you can borrow up to 90%.

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 salary.

How long can a Lloyds Bank mortgage term be?

All Lloyds Bank mortgages allow customers to pay back the loan over a maximum term of 40 years.

Can I make overpayments?

You can overpay up to 10% of your mortgage balance every 12 months before incurring an early repayment charge (ERC).

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.

You can also contact the lender by using online chat or visiting in-branch. Its website is Lloydsbank.com.