Bank of Scotland offering uncompetitive large mortgage loans to existing customers
Thousands of Bank of Scotland mortgage customers are paying more than they should by sitting on the lenders 4.95% standard variable rate.
If you have a mortgage between £300,000 and £7.5 million on Bank of Scotland's standard variable rate, the lender is offering existing customers a two-year fixed rate at 3.59% to tempt them to stay.
However, this is not particularly attractive in today's highly competitive mortgage market.
Over the last few years high-street mortgage lenders have lowered their rates and there are some incredibly cheap large mortgage loans available.
For example, Trinity Financial has access to one specialist mortgage lender offering a two-year fixed rate mortgage below 2% and it is available to borrowers with 40% equity in their property. The arrangement fee is £1,999 and the APR is 3.6%.
If you have a large mortgage loan with Bank of Scotland and you would like to remortgage to a lower rate, call Trinity Financial on 020 7016 0790
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