Lloyds TSB, with Cheltenham & Gloucester, has launched a new three-year fixed mortgage, starting from 4.49 per cent.

The product is to coincide with the London 2012 Olympic and Paralympic Games and is called the "2012 three-year mortgage".

Lloyds, who signed an £80 million deal to become a top-tier London sponsor in January 2007, is offering £100 discount on the product fee and on completion a matched £100 donation split between the British Olympic Association (BOA) and British Paralympic Association (BPA).

Stephen Noakes, the marketing director at Lloyds TSB Mortgages, said: "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."

Last October Lloyds launched a new savings account linked to its sponsorship of the Games.