Mortgages  

Scottish Widows Bank cuts mortgage rates

Scottish Widows Bank cuts mortgage rates

Scottish Widows Bank has cut the rates on its professional and flexible mortgage product range with immediate effect.

In terms of two-year fixed rates, up to 85 per cent loan-to-value deals with a £999 booking fee, have reduced by up to 0.2 per cent, with rates starting from 2.19 per cent (flexible) and 1.99 per cent (professional).

The same two-year rates with a £1,499 booking fee have also fallen by up to 0.2 per cent, with rates starting from 1.99 per cent (flexible) and 1.79 per cent (professional).

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As for three-year fixed rates, up to 85 per cent LTV products with no booking fee have reduced by up to 0.2 per cent, with rates starting from 2.69 per cent (flexible) and 2.49 per cent (professional).

Those with a £1,499 booking fee are also down by up to 0.2 per cent, with rates starting from 2.39 per cent (flexible) and 2.19 per cent (professional).

Finally, on the bank’s two-year base rate trackers, interest rates on those with a £999 arrangement fee are reducing by 0.2 per cent, with rates on up to 60 per cent LTV two-year products starting from 1.19 per cent above Bank of England base rate giving a variable current rate of 1.69 per cent (professional) and 1.89 per cent (flexible).

peter.walker@ft.com