Scottish Widows Bank two-year fixed-rate offset mortgage announced

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Scottish Widows Bank two-year fixed-rate offset mortgage announced

Mon 18th Sep 2006

Scottish Widows Bank has introduced a new mortgage deal in its Professional and Flexible ranges.

The new Scottish Widows Bank two-year fixed-rate offset mortgage will offer a fixed rate until October 31st 2008.

Those borrowing up to 95 per cent of their new property's value will qualify for a mortgage rate of 5.45 per cent.

Borrowers choosing to take out the Scottish Widows Bank two-year fixed-rate offset mortgage with a loan-to-value of over 95 per cent will pay a mortgage rate of 5.99 per cent.

Commenting on the launch of the Scottish Widows Bank two-year fixed-rate offset mortgage, Murdo McHardy, head of product development and marketing at the bank, said: "With base rate movements at the back of everyone's minds, it is important for lenders to support their customers by offering more security in their products to those that want it."

He added that "in the current climate", the Scottish Widows Bank two-year fixed-rate offset mortgage offers "a welcome safeguard" in the form of a fixed mortgage rate.

As an offset deal, the Scottish Widows Bank two-year fixed-rate offset mortgage also has extra flexibility, Mr McHardy pointed out.