The Bank of Scotland mortgages has launched a range of tracker and fixed rate mortgages across its large loan and mainstream mortgage portfolios.
For large loan customers there is a two-year tracker product offering a rate of bank base rate plus 0.09%. The arrangement fee is 499 and the product is available for up 75% LTV. The early repayment charge is 3% to March 31 2007 and drops to 2% to March 31 2008.
Also new to the large loan range is a two-year fixed rate product for mortgages of up to 85% LTV. The rate of 4.74% is fixed until March 31 2008 and there is an arrangement fee of 599. Again, the early repayment charge drops from 3% to March 31 2007 to 2% to March 31 2008.
For remortgage customers Bank of Scotland has introduced a two-year tracker at bank base rate plus 0.29%. This has an arrangement fee of 499 and is available on LTVs of up to 75%.
Mainstream customers also have three new products to choose from, including fixed rate, tracker and remortgage options. This includes a two-year tracker at bank base rate plus 0.09% on LTVs of up to 85%. The arrangement fee is 399 and an early repayment charge of 2% applies to March 31 2008. The two-year fixed rate mortgage is also available on up to an 85% LTV and has a rate of 4.79% fixed until March 31 2008. The arrangement fee is 499 and there is an early repayment charge of 3% until March 31 2008.
There is also a range of remortgage products with the Bank of Scotland fees free remortgage service. Rates start from 4.59% for a two-year tracker to 75% LTV. This product has an arrangement fee of 499 and an ERC of 2% to March 31 2008.
John Lloyd, head of sales at the Bank of Scotland mortgages, says: “Being able to offer customers a choice of products at competitive rates is essential for brokers, and we believe these additions to our range will make it easier for them to meet the demands of their customers.”