Lloyds TSB has today launched a remortgage deal with cashback to assist homeowners likely to struggle with hefty Christmas bills in the New Year.
Lloyds says research suggests 64% of remortgagers are curbing their Christmas spending to meet increased mortgage repayments.
The new two-year fixed rate gives remortgagers a lump sum of £500 when they switch from another lender.
The mortgage has a fixed rate of 5.99% until 31 March 2010 with a £995 product fee.
Alison Burns, director of network mortgage sales, says the cashback offer will give many remortgagers a boost to their New Year finances and help them spend more at Christmas time.
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Ceremony will take place 13 November