Standard Life Bank Freestyle 10-year fixed-rate mortgage announced

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Standard Life Bank Freestyle 10-year fixed-rate mortgage announced

Mon 27th Feb 2006

The Standard Life Bank Freestyle 10-year fixed-rate mortgage offer has been relaunched with an interest rate fixed at 4.89 per cent for ten years.

On March 8th 2016 the interest level will move to the freestyle standard variable rate, which is currently at 5.95 per cent.

This offer is available at up to 75 per cent loan to value (LTV) and has an overall cost for comparison of 5.6 per cent per year.

A reduction in rate on the five-year freestyle deal was also announced – a level of 4.79 per cent is now set on mortgages up to 75 per cent LTV and the overall cost for comparison is 5.8 per cent per year.

Will Fraser of Standard Life Bank said: "The relaunch of our ten-year fixed product and the reduced rate of our five-year product provides a very competitive and attractive solution for those people who are seeking the added security of a fixed outgoing over the longer term."

The Standard Life Bank Freestyle 10-year fixed-rate mortgage has overpayment options of up to ten per cent per year and has a booking fee of £599, which can be added to the loan amount.

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