Positive deals on negative equity

LLOYDS Bank has launched a negative equity mortgage scheme that will transfer up to pounds 30,000 of debt to a new home.

The scheme is available for people who have held a Lloyds bank current account for five years or more and have a good financial track record.

Borrowers who have mortgages with other lenders will also be able to use the plan. Customers will be able to borrow up to 125 per cent of the new property's valuation. Interest will be 7.74 per cent.