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Airmiles Mortgage launched

Wed, 07 May 2008

A new mortgage has been launched that offers consumers the chance to gain airmiles as they pay off their debt .

The Airmiles Mortgage from Lloyds TSB offers customers 6,000 airmiles on the completion of their mortgage and an additional 50 for each month of the life of the fixed-rate deal.

According to the bank, the incentive will be offered on a range of three-year products with interest rates starting from 5.89 per cent.

Lloyds TSB states that anyone taking advantage on the mortgage will be able to save up enough miles to travel to destinations such as Barbados, Hong Kong or Delhi .

Commenting on the offer Sean Gardner, founder of MoneyExpert.com, said: "This is a genuinely good deal and the rewards on offer are nice and simple to redeem. 7,800 airmiles is worth plenty and should not be ignored in the final reckoning if you're choosing a mortgage ." The average rate for a three-year fixed-rate mortgage is 6.44 per cent, he concluded.
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