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The UK's largest lender

Lloyds lent over £42bn in 2018. That's 16% of all mortgage lending.

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Borrow 5x your income

You could borrow up to this amount if you meet the lender's requirements.

About Lloyds

Lloyds is one of the UK’s largest mortgage lenders.

They provided about 16% of all mortgages in 2018, totalling £42.5 billion.¹

Lloyds was started in 1765 in Birmingham and is part of the Lloyds Banking Group, which includes Bank of Scotland and Halifax and BM Solutions.

Lloyds offer mortgage deals to many people but often will not lend to you if you have bad credit.

In this review we'll cover:

Is Lloyds a good mortgage lender?

We're looking at public complaints data to estimate Lloyds quality of service.

Between July and December 2019 the UK’s financial regulator had 2,759 complaints from Lloyds mortgage customers.²

That’s around 0.2% of customers and is lower than the 1.06% average across major lenders.*

*The number of customers served by this lender isn’t publicly available so we’ve estimated this figure based on market share and average house price in the UK.

How long a Lloyds mortgage application takes

We don’t have the data on how long it takes for Lloyds to process mortgage applications because you can only get a Lloyds mortgage directly from them.

A Lloyds mortgage adviser will be able to answer any questions you have about the application process and how long it takes. 

What affects the time taken to approve my application?

The time it takes for a lender to approve an application will vary depending on your personal circumstances and how busy the lender is.

Some applications can be approved by the lender within 24 hours but others can take weeks or even months.

How much you can borrow from Lloyds

Lloyds could lend you up to 5 times your salary.

How much you can borrow will also depend on your:

  • credit history

  • debts

  • deposit

  • regular expenses and bills

  • age


Lloyds don’t offer mortgages above an 85% LTV at the moment, so you’ll need to have at least a 15% deposit.

See how much you might be able to borrow with our mortgage calculator.

These details were last updated on July 2020.

Lloyds mortgage calculator

Calculate how much you may be able to borrow with a Lloyds mortgage. Calculate your monthly mortgage repayments for a Lloyds mortgage.

How much can I borrow?
Mortgage repayment calculator

Your home could be repossessed if you don't keep up repayments on your mortgage.

Talk to a mortgage broker or lender to get a more accurate remortgage savings amount.

You could borrow up to

Loan to value (LTV):00%
Including your deposit, you could afford a house price up to£000,000
Other fees you may have to pay:
Broker fee(free with Trussle)
Additional fees(learn more)

Next steps

If you're ready to get a mortgage, the next step is to answer a few more questions. Then a Trussle adviser will find the best mortgage deal for you.

Your home could be repossessed if you don't keep up repayments on your mortgage.

Talk to a mortgage broker or lender to get a more accurate remortgage savings amount.

Lloyds' lowest mortgage rates

This information is currently unavailable for this lender.

Lloyds' best mortgage deals

This information is currently unavailable for this lender.

Types of mortgages Lloyds offers

Lloyds offers a variety of mortgages for different types of customers.

Lloyds offer:  

Lloyds offer home mover mortgages for people looking to move house.

Find out more about moving house in our guide.

Lloyds offer ‘hassle free’ mortgage options.

This means they’ll sort out and pay your standard legal fee through their eConveyancing service. You’ll also get your standard valuation free of charge.

This service is available for selected mortgages.

Getting a Lloyds mortgage

Lloyds mortgages are only available directly. 

This means you have to go straight to them if you’d like to apply for a Lloyds mortgage.

Getting a mortgage in principle lets you know how much you could borrow for a mortgage.

After you’ve been given an MIP you can apply for a mortgage.

You can apply with Lloyds by phone, online or in a Lloyds branch.

Different mortgage offers from Lloyds could last different lengths of time, depending on your circumstances. 

To find out how long your mortgage offer will last, take a look at the terms of the offer when you receive it. That way you’ll know exactly how long you have to complete the purchase of your chosen property.

Your conveyancer will request your mortgage funds after you’ve exchanged on the property, and ask you to transfer any additional funds you’ve agreed to pay.

At this point, you’ll also sign the mortgage deed and a document transferring ownership of the home to you.

In most cases, you’ll be transferred onto one of Lloyds Bank’s variable rate mortgages. 

This means your monthly payments are likely to change depending on the mortgage market, unlike a fixed rate mortgage.

You’ll have the option to move if you’re not happy with your new variable rate mortgage. 

It’s a good idea to do your research ahead of time to find out what you’ll be expected to pay and whether you might find a more suitable deal with Lloyds or another lender.

Lloyds mortgage payments

Lloyds will send you a letter once your property purchase has been confirmed. It’ll contain all the details of your payment plan. 

This will include how much you’ll need to pay, and when you’ll need to pay it.

Lloyds will allow you to either make regular overpayments.

You’ll either have to increase the amount you pay each month or make a one-off overpayment in the form of a lump sum. The option you choose will depend on your circumstances.

To increase the amount you’re paying each month, just contact Lloyds and amend your Direct Debit. You could also set up a new standing order to cover the additional payments.

You can make a lump sum overpayment via a bank transfer, or by using your debit card. However, Lloyds will only accept overpayments of up to £30,000 from debit cards.

You’ll need to get in touch with Lloyds to find out whether they’ll let you extend your mortgage term.

Extending your mortgage term will increase the amount of interest Lloyds charge because the loan will take longer to repay.


You’ll need buildings insurance for the full term of your mortgage. It’ll cover repairs to your property’s structure and any fixtures and fittings. 

You can decide whether you want to get life insurance or contents insurance.

Looking at pictures

Get a mortgage with Trussle today

  • Our remortgage customers save an average of £171 a month*

  • Trussle is fee-free for most customers**

  • 5-star Trustpilot rating from over 5,000 reviews

  • 12,000 mortgage deals from 90 lenders

  • Skip the paperwork: apply online any time

*The savings figure is from Trussle mortgage customers in September 2022. **You may have to pay a fee depending on your circumstances and credit history. Learn more.

Your home could be repossessed if you don't keep up repayments on your mortgage.

You may have to pay an early repayment charge to your existing lender if you remortgage.

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Deal and rate data was sourced by Trussle. All other information was sourced from Lloyds' own website, unless referenced below.

¹ UK Finance

² Financial Conduct Authority