Mike Jones, director of intermediaries at Lloyds Banking Group (pictured) has also taken on the additional responsibilities as managing director of Scottish Widows Bank and lead its drive away from a savings emphasis.
Jones said: “The mortgage landscape may have changed over the last few years, but there is still a requirement for niche products such as professional and offset mortgages. There is a segment of the home buying public that have specific requirements from their mortgage and we plan to offer competitive rates in this segment.”
Formed in 1995, Scottish Widows Bank has been a long established life, pension and investment company, which entered the mortgage market in 1997, launching a niche flexible and professional mortgage range in 1998.
The bank has reduced rates by up to 0.50% and launching new mainstream tracker and professional range.
The new range includes:
• 0-60% LTV 5 year fixed rate professional mortgage is reduced by 0.50% to 3.19%
• 0-60% LTV 2 year fixed rate professional mortgage is reduced by 0.40% to 2.49%
New products
• A 0-60% LTV 2 year fixed rate professional mortgage has been launched at a rate of 3.09%
• New 75.01% to 80% LTV products across the 2 Year fixed and tracker product range
• New 85.01% to 90% LTV, 5 Year fixed professional mortgage product
Jones added: “We have a compelling product range available to brokers and their customers. Whilst allowing brokers to retain ownership of the case; we work with them from application stage through to settlement by providing them with individual case management to ensure that their customer has the best mortgage suited to their needs.”
Scottish Widows confirmed in February last year it is considering extending protection sales to intermediaries, expanding beyond direct sales through Lloyds Banking Group.
