Lloyds TSB launches first 'fully flexible' mortgage

The “Easy Living” mortgage allows customers to make overpayments, pay off their mortgage early, switch between repayment and interest-only or change their term, at any time throughout the life of the mortgage and without paying a fee. The announcement follows last week’s launch by Kent Reliance Building Society of what has already become known as the “never–ending mortgage”, through which borrowers can pass on their mortgage to their beneficiaries through their estate. Lloyds says borrowers will be able to apply to borrow more with the same discount without paying a fee, or switch to a...