Scottish Widows price matches flexible and professional mortgages

Ryan Bembridge

May 2, 2017

Scottish Widows has opted to price match its flexible mortgage products with its professional range.

The two ranges differ in that the flexible mortgage is designed for both the employed and self-employed.

The professional range is designed for qualified, practicing and registered accountants, actuaries, barristers, dentists, engineers, medical doctors, optometrists, pharmacists, solicitors, teachers and vets.

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After the two ranges were brought together 2-year fixes on both start from 1.19% to 50% loan-to-value and 5-year fixes from 1.75% to 50% LTV, both with a £999 fee.

Over £1m 2-year fixes cost 1.45% to 50% LTV with a £1,999 fee and 5-year fixes cost 1.99% to 50% LTV with a £1,999 fee.

Martin Fleming, managing director of Scottish Widows Bank, said: “In this market there’s a growing number of people struggling to decide whether to pay down their mortgage when remortgaging or set the cash aside in a low interest environment.

“Reducing rates on our flexible product range will help open up the market to those who in the past thought offset came at a premium.

“With rates at all-time lows, enhanced repayment vehicles and lower product fees, we are providing an attractive option for those facing that dilemma, while helping plug the gap in the market for products at 50% LTV which we are confident will be welcomed by brokers.”

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