Free iPads with Lloyds Bank mortgages

1 October 2014

First-time buyers and home movers will be given an iPad for free if they take a mortgage with Lloyds Bank.

The bank will give a 16GB 4G iPad to those who successfully apply for a mortgage between 7 October and 27 November.

Lloyds said that it can take homeowners up to six weeks to get an internet connection in their new home, so the offer will help keep their customers online during the early weeks of their move.

Marc Page, mortgages director at Lloyds Bank, said: "Our customers have told us about the inconvenience of being unconnected when moving into a new house.
"By providing customers with a connected iPad, we're enabling them to complete those domestic necessities very quickly, such as setting up bills, transferring money or simply surfing the internet. This should make the transition of moving into a new house even more enjoyable."

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However, mortgage expert with London and Country Mortgages, David Hollingworth, said people must be wary of distractions when making decisions about such an important aspect of their finances.

"While something like an iPad is desirable, people have to factor in what they are paying for their mortgage - including fees - and not be drawn in by a shiny gimmick," he said.

"Lloyds is not always at the top of the table when it comes to rates. An iPad may appeal to some but the overall cost of the mortgage must be the priority."

The offer excludes customers taking out a Buy to Let or shared equity (including Help to Buy) mortgage.

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