Northern Rock and Lloyds TSB mortgage venture
Northern Rock have recently announced a new venture with Lloyds TSB in that some existing Northern Rock mortgage customers will be offered the option to apply for a Lloyds TSB mortgage ‘from a selection of their deals’. As professional mortgage advisors we feel that we should point out the pros and cons of these options.
Firstly the deals will not be offered to all Northern Rock customers and the deals that will be offered are not from their full range. They will also be on an information only basis. This means they are offering a limited choice and you have limited protection as no advice is given.
As Independent Advisors we will of course be able to offer you a wider choice of products and lenders when your existing deal expires. We would suggest that if you are lucky enough to receive this option from Northern Rock that you contact ourselves to discuss the suitability and competitiveness of any products offered.
