Rates reduced on Standard Life Bank Fixed-Rate Freestyle Lifetime Mortgages
www.moneynews.co.uk > Rates reduced on Standard Life Bank Fixed-Rate Freestyle Lifetime Mortgages
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Money News |
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Rates reduced on Standard Life Bank Fixed-Rate Freestyle Lifetime Mortgages
Tue 16th May 2006
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This is an adjustment from the previous rate of 6.9 per cent with a cost for comparison of 7.2 per cent APR.
Products in the range come with a safe home income plans approval and a negative equity guarantee.
Interest on any of the Standard Life Bank Fixed-Rate Freestyle Lifetime Mortgages will be calculated on a daily basis but applied annually, with a fixed rate for the lifetime of the loan.
After the first five years of the deal further borrowing opportunities will be offered through credit reassessment. Early repayment charges apply during the first ten years of the mortgage.
The product also has a cash reserve facility, which is available within the first five years and does not carry any fee.
