Scottish Widows offering large mortgage loans to existing customers

by Aaron Strutt

Sep 10 2015

Scottish Widows Bank is offering a range of competitively priced product transfer rates to existing Professional customers.

The lender has separate rates for borrowers with Flexible products.

For mortgages over £349,999, the bank’s lowest two-year rate is fixed at 1.74% until 30 November 2017.

At the end of the fixed rate period, the mortgage reverts to the lender’s standard rate, which is currently 3.99%. The overall cost for comparison is 3.8% APR.

Aaron Strutt, product manager at Trinity Financial, says: “If your fixed rate has expired and you are looking to secure another rate, there is a large choice of mortgages available at the moment.

“It is worth making sure you are getting the best rate before you apply to lock into a product transfer.” 

Borrowers will need at least 40% equity in their property to qualify for this rate. There is a minimum loan size of £349,999 and the lender will not ask for a valuation fee.

The standard arrangement fee is £599 and it will be charged again for every £1 million borrowed.

Trinity Financial can submit an application up to three months before fixed rates expire.

Please note, the lender may request additional information for:

·         Mortgages over £1 million

·         Guarantor mortgages

·         Mortgages with consent to let

·         Interest-only mortgages without an acceptable repayment vehicle  

To secure a Scottish Widows product transfer mortgage, call Trinity on 020 7016 0790