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Scottish Widows Bank cuts rates and expands offset range

  • 06/02/2017
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Scottish Widows Bank cuts rates and expands offset range
Scottish Widows Bank has expanded its offset remortgage product range and introduced a number of fixed rates enhancing its professional and flexible mortgages.

The lender is reducing selected flexible remortgage products, with a two-year fixed rate at 1.29% at 60% loan-to-value (LTV) and a 1.44% at 75% LTV, both with a £1499 product fee. Both products come with a fee-free remortgage package as part of the deal.

Martin Fleming (pictured), managing director, Scottish Widows Bank, said: “Boosting our offset remortgage range with new competitive options – including our lowest ever rate – helps demonstrate our commitment to supporting the growing number of borrrowers looking for a competitive and flexible remortgage deal.”

Other changes to the product range include:

Two-year fixed rates – remortgage products

Interest rates reduced by up to 0.15% on flexible and professional mortgage products up to 85% LTV with no fee.

Two-year base rate tracker – remortgage products

Newly-introduced two-year base rate tracker flexible and professional mortgage products up to 75% LTV with no fee.

Five-year fixed rates – remortgage products

Interest rates reduced by 0.15% on flexible and professional mortgage products up to 75% LTV with £1499 fee and a fee-free option.

Large loan rates introduced for borrowing over £1m, starting at 2.19% with a £1999 fee, available up to 75% LTV

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