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Scottish Widows launches new fixed rate mortgage

19 September 2006
A new two-year fixed rate offset mortgage product starting at 5.45 per cent has been announced by Scottish Widows Bank.

The mortgage is available for up to 95 per cent of the total value of the property and is on offer, with an increased procuration fee, until October 31st.

A facility to borrow over 95 per cent of the property value is also possible, although this incurs a slightly higher interest rate of 5.99 per cent.

"With base rate movements at the back of everyone's minds, it is important for lenders to support their customers by offering more security in their products to those that want it," said Murdo McHardy, head of product development and marketing for Scottish Widows.

"In the current climate, this new product offering will not only provide a welcome safeguard of a fixed rate, but also the flexibility of an offset product that ensures your savings are consistently working to reduce your mortgage."

To read more about mortgage products click here.

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