Bank of Scotland launches 100% fixed rate mortgage

Bank of Scotland has launched a 100% fixed rate mortgage, which it says is designed to help first time buyers and the self-employed. Its rate is fixed at 5.99% for three years until August 31 2004, and is available up to 100% of the value of the loan for both purchases and re mortgages. At the end of the fixed rate term, the interest rate reverts to the Bank of England's standard variable rate. George White, mortgage sales director at Bank of Scotland said: "With house prices continuing to rise throughout the country, it is becoming increasingly difficult for first-time buyers t...