Standard Life offer one per cent mortgage

08 November 2004
Standard Life Bank has released a new mortgage - with an introductory interest rate of just one per cent.

Available on loan to value rates of 50 per cent, the mortgage offers consumers the discounted rate for three months. For an LTV of 70 per cent borrowers will pay just 2.1 per cent for the first three months.

People wishing to benefit from a lower rate for longer can take out discounts on 70 per cent LTV mortgages which last either six or nine months. For a six-month discount the interest rate stands at 4.1 per cent, for a nine-month discount the introductory rate is 4.75 per cent.

David Macmillan, director of sales and marketing at Standard Life Bank, noted: "As rising consumer debt remains a concern it is vital that homeowners take stock of their finances now ... customers can take advantage of these great discounts to consolidate their current financial commitments."

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