Scottish Widows Bank is offering a range of competitively priced product transfer rates to existing Professional customers.
The lender has separate rates for borrowers with Flexible products.
For mortgages over £349,999, the bank’s lowest two-year rate is fixed at 1.74% until 30 November 2017.
At the end of the fixed rate period, the mortgage reverts to the lender’s standard rate, which is currently 3.99%. The overall cost for comparison is 3.8% APR.
Aaron Strutt, product manager at Trinity Financial, says: “If your fixed rate has expired and you are looking to secure another rate, there is a large choice of mortgages available at the moment.
“It is worth making sure you are getting the best rate before you apply to lock into a product transfer.”
Borrowers will need at least 40% equity in their property to qualify for this rate. There is a minimum loan size of £349,999 and the lender will not ask for a valuation fee.
The standard arrangement fee is £599 and it will be charged again for every £1 million borrowed.
Trinity Financial can submit an application up to three months before fixed rates expire.
Please note, the lender may request additional information for:
· Mortgages over £1 million
· Guarantor mortgages
· Mortgages with consent to let
· Interest-only mortgages without an acceptable repayment vehicle
To secure a Scottish Widows product transfer mortgage, call Trinity on 020 7016 0790