Scottish Widows pulls a selection of its tracker rate mortgages
Scottish Widows Bank has withdrawn a host of its two-year tracker mortgages above 75% loan-to-value.
In an email to brokers, Scottish Widows said: “As a responsible lender we are taking steps to ensure borrowers can maintain affordability at any point over the first five years of the loan should the Bank of England Base Rate increase.”
Scottish Widows offers a range of flexible and offset mortgages for applicants in all types of professions, including dentists, doctors and lawyers.
Their lowest two-year variable rate is 2.29% and it has a £999 arrangement fee. Borrowers will need to put down a 40% deposit and the APR is 3.8%. After two years the mortgage will revert to the lenders standard variable rate, which is currently 3.99%.
The lender is happy to offer large mortgage loans but their maximum interest-only borrowing is £1 million, larger mortgages are available when the additional amount is taken on a full capital-repayment basis.
If you would like help to secure a Scottish Widows mortgage, call Trinity on 020 7016 0790.
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