Products being introduced include:
- A one-year fixed rate has been introduced at 0-85 per cent LTV. The rate is 4.75 per cent until 30 June 2007. There is an arrangement fee of £599 and an ERC of 5 per cent until 30 June 2007.
- Two-year tracker rates have been reduced by 0.10 per cent and start from Bank Base Rate + 0.39 per cent (4.89 per cent) to 75 per cent LTV, until 30 June 2008. There is an arrangement fee of £599 and an early repayment charge of 5 per cent until 30 June
2008 applies.
- Two-year fixed rates have been reduced across the range of LTVs. The two-year fixed rates now start from 4.75 per cent until 30 June 2008. The maximum LTV is 75 per cent and the arrangement fee is £599. There is an ERC of 5 per cent
until 30 June 2008.
- In addition, a three-year fixed rate to 85 per cent LTV has been reduced by 0.20 per cent to 5.09 per cent. There is an ERC of 5 per cent until 30 June 2009 and no arrangement fee to be paid.
Charles Haresnape, managing director of Bank of Scotland Mortgages, said: "Customers within the self-certification market want flexibility and choice. By reviewing our range of products and rates we are enabling brokers to truly meet the varied needs of this market, whether customers want the security of being able to predict their monthly payments or they prefer to track the Bank Base Rate."
