Scottish Widows buy-to-let mortgages 'extended'

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Scottish Widows buy-to-let mortgages 'extended'

Tue 20th Mar 2007

Scottish Widows has made a number of improvements to its buy-to-let mortgage range.

A range of rates are now available on the Scottish Widows buy-to-let mortgages, including two and five-year fixed-rate products at 5.99 and 5.79 per cent respectively, which will both then revert to one per cent above the base rate.

The group is also rolling out a base rate tracker which will be following the Bank of England base rate plus 0.50 per cent, before also reverting to one per cent above the base rate for the rest of the loan period.

Borrowers can also borrow a greater proportion of a property's cost with a Scottish Widows buy-to-let mortgage, with the loan-to-value rate having risen up to 85 per cent for applicants who qualify for the bank's professional mortgage.

"With these enhancements we have a competitive buy-to-let mortgage product to offer landlords, both those already in the market and those thinking about buying their first buy-to-let property," said Richard Clark, head of product development and marketing at Scottish Widows Bank.

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