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Scottish Widows adds five-year offset to mortgage range – exclusive

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  • 21/09/2016
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Scottish Widows adds five-year offset to mortgage range – exclusive
The subsidiary of Lloyds Banking Group is expanding its specialist mortgage range to include a five-year fixed rate offset, Mortgage Solutions can exclusively report.

Scottish Widows, with its focus on professional and flexible mortgages, is offering up to 90% loan-to-value (LTV) and offset at no extra cost.

First time buyers, home movers and remortgagors can all apply.

Professional mortgage rates will start at 2.29% and flexible at 2.39%, both with a £1,499 fee.

Managing director of Scottish Widows Bank, Martin Fleming, said: “With our five-year fixed rate we are offering customers the best of both worlds – the peace of mind provided by a longer term competitive rate and the flexibility provided by offset allowing them to use their savings to reduce the term of their mortgage or reduce monthly payments.”

News of the expansion comes after Scottish Widows Bank announced in June it was widening its criteria on interest-only mortgages to allow borrowers to use the sale of the main property as a repayment vehicle.

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