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Trips and Mortar

Trips and Mortar

Category: Mortgages

Updated: 31/10/2008
First Published: 06/05/2008

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Lloyds TSB today announces the second stage of its AIRMILES partnership, with the launch of an AIRMILES mortgage.

Customers who opt for the new AIRMILES product will receive a lump sum of 6000 airmiles on completion of their mortgage and will earn an additional 50 airmiles each month for the life of the fixed rate.

The AIRMILES mortgage will be available from Wednesday 7th May 2008 and will be offered on a range of three year fixed rate products, with rates starting from 5.89%.

Alison Burns, director of network mortgage sales at Lloyds TSB said: "This new deal combines some of our most competitive rates, with a genuinely useful reward package. We all enjoy the idea of getting something for free and in a time when mortgage payments are a top priority, this offer enables customers to earn rewards on their essential spending."

Over the three year fixed period customers could earn approximately 7800 airmiles. Collectors can use their airmiles on a range of rewards, including the following:

  • A return flight to any zone four destination, including Barbados, Hong Kong or Delhi (6000 airmiles)
  • Five return flights to Barcelona, Rome or Prague (1500 airmiles per return flight)
  • 19 haircuts at a top salon (400 airmiles per haircut)
  • Six trips to the theatre, with dinner for two people (1250 airmiles per trip)
  • 10 cases of deluxe wines ( 750 airmiles per case)
Alternatively, a family of four could enjoy all of the following activities: a day out at Newmarket races, a tour of the Manchester United stadium, a dolphin watching session, a day at Legoland and there would still be enough left for Mum and Dad to enjoy return flights to Paris.

Customers can also benefit from a 100 airmiles bonus if they choose to take out Lloyds TSB combined contents and buildings insurance in conjunction with their mortgage.

Alison Burns continues: "The AIRMILES partnership has proved extremely popular with credit card customers and we hope to replicate this success with the introduction of a reward mortgage. This is a brand new concept for the mortgage market and part of our ongoing commitment to provide customers with innovative products."

Today's announcement marks the second exciting stage in the partnership between Lloyds TSB and AIRMILES. In April 2007 the Lloyds TSB AIRMILES Duo Card was launched with great success and now has in excess of a million customers.

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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