Scottish Widows cuts large loan rates

Ryan Bembridge

February 24, 2017

Scottish Widows has cut large loan rates by 0.20% – as 2-year fixes across its professional range now stand at 1.64% to 60% loan-to-value, 1.84% to 75% LTV and 2.54% to 80% LTV.

Flexible mortgage rates stand at 1.74% to 60% LTV, 1.94% to 75% LTV and 2.64% to 80% LTV.

All afore mentioned products come with a £1,999 fee for borrowing between £1m and £3m.

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For loans of £3m to £6m two product fees will be payable, while three will be incurred for loans of £6m to £9m.

Martin Fleming, managing director, Scottish Widows Bank, said: “Our £1m+ product range attracted more than £40m of business in the first six weeks of this year alone, and the combination of competitive rates, flexibility of offset and great service have helped us carve out success in this area.

“These new changes will enable us to continue building on that strength and grow completions significantly in 2017.

“We recently introduced our lowest ever remortgage rates with the built-in flexibility of offsetting to help brokers save money for clients. Making our large loan offering more accessible with a lower rate is part of our wider commitment to the market.”

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