Lloyds Banking Group
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Does LBG offer a staff mortgage?

12 answers

  • Yea they do for permanent members of staff - not great for tax as it’s seen as a benefit and your tax code is adjusted

  • Yes they do but trying to get one and being deemed 'affordable' to get one is two different things. Much better else where

  • A permanent employee can obtain a staff mortgage which is a variable rate- HMRC treat this as a benefit in kind tax there for your tax code would be adjusted- bear in mind your Mortgage advisor is not a tax advisor so if you are unsure you should seek independent tax advice. Your Mortgage advisor will look at tax implications and assess if this is beneficial when BIK considered. Staff members still need to go through the same affordability model as non staff members- ensuring lending is affordable etc. So you may be able to obtain a larger loan outside of the group as each lender has there own policy as to how this is worked out. Staff loans may not always be suitable especially if you are not in a position to absorb rate rises- again your Mortgage advisor will recommended the product term and type most appropriate for you

  • Yes, not great for tax

  • Yes however I do not know any details as I don't have a mortgage.

  • Yes they do.

  • Yes, a very good staff mortgage is on offer.

  • Yes it does.

  • Yes it does

  • Yes but I found a better deal elsewhere they do not lend as much as some other lenders so I found they did not offer enough to make the purchase.

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