Scottish Widows Bank launches ten-year fixed rate

The ten-year fixed rate, fixed until 28 February 2018, is available from 5.59% for a loan of up to 75% loan to value, rising to 5.89% for loans of over 75% LTV. The product has a fee of £499, which can be added to the loan, and allows up to 10% of the loan balance to be repaid each year without early repayment charge. Richard Clark, head of product development and marketing at Scottish Widows Bank, comments: “Many people are coming to the end of cheaper short-term fixed rate deals, and affordability can become an issue when looking for a new deal. Although interest rates are expected to...