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Home loans: Lloyds lets customers overpay without penalty

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Editorial Staff

The UK's Lloyds Banking Group took on a huge loan book when it took over the rapidly imploding HBOS group that included Halifax and Bank of Scotland. Halifax was the UK's largest mortgage lender. And now it's offering a helping hand to those who can afford to pay off their loans more quickly.


From 13th March, Lloyds Banking Group, the leading UK mortgage lender, will launch a new scheme that will allow all customers with a variable rate mortgage to overpay their mortgages by up to 20% with no financial penalty. The scheme will last for one year until 31 March 2011. The move underscores the Bank's commitment to help its customers gain maximum advantage from the current low rate environment.