Scottish Widows launches 5-year fixed rates

John Hewitt Jones

September 22, 2016

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Scottish Widows Bank has expanded its specialist mortgage range to include new five-year fixed-rate offset products.

The lender is offering professional mortgages up to 90% LTV, with rates starting at 2.29%.

Included in the new range are flexible mortgages up to 90% LTV, starting from 2.39%.

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Martin Fleming, managing director, Scottish Widows Bank, said: “With interest rates on savings accounts at record lows, offset mortgages are a great option to earn the same rate of interest on your savings as you pay on your mortgage. With our five-year fixed rate we are offering customers the best of both worlds – the peace of mind provided by a longer term competitive rate and the flexibility provided by offset allowing them to use savings to reduce the term of their mortgage or reduce monthly payments.”