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Residential property# in Great Britain, Spain*, France*, Portugal*, New Zealand, Hong Kong, Singapore and selected locations in Australia, Canada & USA.
For Dubai property loans and full product guide, please click here for details.
| Minimum loan size |
New loan applications – GBP100,000 or currency equivalent.
Further advances – GBP35,000 or currency equivalent. |
| Minimum property value |
For property in the USA $400,000. Not applicable for other locations. |
| Financing (LTV) |
Maximum 50%- 70% of purchase price or valuation price, whichever is lower. |
| Loan currency and switching |
Loans are granted in the local currency of the property location and, subject to criteria and availability, in the currency of the borrower's primary income.
The available currencies are GBP, USD, Euro, Yen, CHF, AUD, NZD, CAD, HKD or SGD.
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. |
Interest rate
margin
| Property Location |
Maximum LTV |
| |
50% |
60% |
70% |
| Great Britain |
2.49% / 2.69% |
2.69% / 2.89% |
2.99% / 3.19% |
| USA – California, Florida, Nevada & Oregon |
2.89% / 3.09% |
N/A |
N/A |
| USA – Other selected states |
2.69% / 2.89% |
2.89% / 3.09% |
N/A |
| Canada |
1.99% / 2.19% |
2.09% / 2.29% |
2.29% / 2.49% |
| France |
1.49% / 1.69% |
1.59% / 1.79% |
1.69% / 1.89% |
| Spain |
1.89% / 2.09% |
2.09% / 2.29% |
N/A |
| Portugal |
1.49% / 1.69% |
1.59% / 1.79% |
1.69% / 1.89% |
| Australia |
1.49% / 1.69% |
1.59% / 1.79% |
1.79% / 1.99% |
| New Zealand |
1.69% / 1.89% |
1.79% / 1.99% |
1.99% / 2.19% |
| Dubai |
3.49% |
N/A |
N/A |
| Hong Kong |
2.09% / 2.29% |
2.19% / 2.39% |
2.29% / 2.49% |
| Singapore |
1.39% / 1.59% |
1.49% / 1.69% |
1.69% / 1.89% |
The interest rate margins shown in bold are for loans taken in the currency of the property location. These show the margins over our Cost of Funds rate for the relevant currency with the exception of Sterling (GBP), where this is the margin over the prevailing Lloyds TSB UK Base Rate, and Spain and Portugal, where this rate shows the margin over the prevailing Bank of England Base/Euribor/LIBOR rate. Please note that local currency loans are not available in Dubai.
The interest rate margins shown in regular font are for loans taken in the currency of the applicant's primary income. For loans taken in GBP, these rates are the margin over the prevailing Lloyds TSB UK Base Rate (Bank of England Base Rate for Spain and Portugal). For loans taken in other currencies, these show the margins over our Cost of Funds rate for the relevant currency (relevant Euribor or LIBOR rate for Spain and Portugal). |
| Interest only |
For interest only loans, add 0.20% to the above rates.
Interest only is not available for property located in Dubai |
| Loan term |
Up to 30 years term or up to 70 years of age (or to the retirement age), whichever is earlier. For interest-only loan on properties in Spain, the maximum term is 5 years after which the loan will be switched to Capital & Interest repayment basis for the remainder of term |
| 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 -
France, Spain, Portugal, Canada, USA and UK : 1.0%
Property in -
Australia, New Zealand, Hong Kong and Singapore: 0.5% |
Commitment fee
(US property only) |
0.3% of the loan amount upon acceptance of our formal offer letter and is non-refundable. |
| Valuation fees, stamp duties, taxes, communication charges, building & other forms of insurance |
For client's account. |
| Legal fees |
For client's account (both the borrower's and the bank's legal fees). |
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. |
| 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
Early repayment charges apply to all new applications and will be charged upon partial or full repayment during the first 3 years -
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3% of the amount being repaid within the first 12 months of drawdown (Year 1) |
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2% of the amount being repaid within the following 12 months (Year 2) |
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1% of the amount being repaid within the following 12 months (Year 3) |
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| 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, former local authority or public housing, Defence Force property or similar.
* Not available to corporate and trust structures except for borrowers resident in France, Spain & Portugal who are using offshore companies to buy properties overseas. Also not available 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. 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, Singapore and Malaysia offices only.
June 2009
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