Lloyds offers mortgage discount to current account customers

In an effort to boost its cross-sell metrics, the UKs largest retail bank Lloyds is to offer its Lloyds TSB current account holders a 0.2 percent discount in mortgage interest rates, provided customers deposit £1,000 ($1,544) or more in their accounts each month. Lloyds said that customers signing up to its 3.99 percent fixed rate repayment mortgage borrowing £150,000, would save £197 in the first year as a result of the mortgage interest rate reduction to 3.79 percent. Stephen Noakes, Lloyds TSB head of mortgages at said: "Rewarding our current account customers by helping to reduce the costs of their mortgage payments is just one of the ways Lloyds TSB will continue to deliver the best value mortgages and develop deeper relationships with our customers in these still challenging times