Scottish Widows returns to mortgage lending

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Scottish Widows Bank has relaunched into the market with mainstream, offset and professional mortgages on offer from today.

Managing director Mike Jones said:

“The mortgage landscape may have changed over the last few years, but there is still a requirement for niche products such as professional and offset mortgages. There is a segment of the home buying public that have specific requirements from their mortgage and we plan to offer competitive rates in this segment.”

Formed in 1995, Scottish Widows Bank has been a long established life, pension and investment company, which entered the mortgage market in 1997, launching a niche flexible and professional mortgage range in 1998. The latter was aimed at borrowers starting out in specific professions, such as law, accountancy and medicine, who can generally expect a sharp increase in salary.

Scottish Widows’ new mortgage range includes:

• 0-60% loan-to-value (LTV) 5 year fixed rate professional mortgage charged at 3.19%
• 0-60% LTV 2 year fixed rate professional mortgage charged at 2.49%

• A 0-60% LTV 2 year fixed rate professional mortgagecharged at 3.09%
• A range of 75.01% to 80% LTV products across the 2 Year fixed and tracker product range
• New 85.01% to 90% LTV, 5 Year fixed professional mortgage product