Scottish Widows adds ‘leading’ rates on 5-year fixes

Scottish Widows bank has added new ‘leading’ rates on its five-year fixed flexible and professional remortgage products for a limited period.

The specialist lender is offering 5-year fixes for loans to a value of £1m for up to 50 per cent LTV at 1.74 per cent with a £749 fee.

The five-year fix is also available for deals between 50 and 60 per cent LTV at 1.84 per cent, also with a £749 fee.

Eligible mortgage applications must be fully packaged and at offer stage by 30 November and completed no later than 22 December 2017. All existing five- year fixed rate products still remain available.

Scottish Widows Bank managing director Martin Fleming says: “We have seen a strong trend of our customers opting for longer term fixes in recent months and this has also been reflected across the market.

“Following the Bank of England base rate rise, there is an opportunity for advisers to provide certainty around mortgage payments for their clients in a period of change”.

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