Lloyds TSB has unveiled what it claims is its lowest ever &lta href=&quothttp://www.lloydstsb.com/mortgage/3_year_fixed_rate_mortgages.asp&quot&gtthree-year fixed rate mortgage&lt/a&gt at 3.74% – or 3.94% for non-current account customers.

The 75% LTV deal, which is available to first-time buyers, house purchasers and remortgagers, comes with a £1495 product fee.

Stephen Noakes, commercial director of mortgages at Lloyds TSB, said: “This product has been designed to give our customers choice. For some borrowers having low up front costs is a priority