The new product provides customers with a £100 discount on the mortgage product fee. On completion, this will be matched with a £100 donation by the bank, split between Team GB and ParalympicsGB.
The offer is available on both Lloyds TSB and Cheltenham & Gloucester, three year fixed rate products, which will mature in 2012.
Stephen Noakes, marketing director at Lloyds TSB Mortgages, commented on the new offer: "This deal allows homeowners to use their essential mortgage spending to make a financial contribution towards the future success of our elite athletes, at no extra cost to themselves.
The discounted fee and market leading rates means this is one of the most competitive three year fixes available and customers can enjoy the security of this rate right through until 2012."
Andy Hunt, Chief Executive of the British Olympic Association commented: "The support of our partners is essential to the success of Team GB It is great news that Lloyds TSB is looking at creative ways to raise additional funds and help our athletes on their journey to London 2012."
Phil Lane, CEO of ParalympicsGB said ‘We're delighted that Lloyds TSB and its customers will be supporting the British Paralympic team in such a practical way. We look forward to making them proud in London in 2012'
