Standard Life Bank announces limited offer rate drop
In response to an increasingly competitive marketplace, Standard Life Bank is offering this product at a two-year fixed rate of 4.59 per cent (moving to the Freestyle standard variable rate of 5.95 per cent) for up to 75 per cent Loan to Value. The overall cost for comparison is 6.0 per cent APR.
This rate drop, which is available for a limited period only, will see up to 0.25 per cent cut from the previous rate.
Additional features available with this product include:
Add booking fees to loan (for both house purchase and remortgage)
Product mixing (with Freestyle Discount)
Will Fraser, National Sales Manager at Standard Life Bank commented: “Feedback from our key distribution partners is that consumers are currently more receptive to shorter term products. Our award winning mortgages and our flexible proposition enables Standard Life Bank to offer short-term benefits coupled with long-term value.
“From the intermediaries’ perspective service is still a key factor when recommending a lender. Yet again Standard Life Bank is responding to the needs of intermediaries and their customers through its product range. Our market leading servicing proposition, including direct access to senior underwriters, provides intermediaries with the level of support they require from a lender to help them deliver a first class service and differentiate them from the high street propositions,” he said.