Large Loans Over £750,000
A rate of 4.39% will be available on the two-year fixed rate product for loans over £750,000, offering exceptional value to intermediaries with clients looking to borrow between £750,000 and £5 million. For these loans clients can borrow up to £5million to 75% LTV and £1.75million to 85% LTV. Furthermore, this product includes the option of the fees free remortgage service, where Bank of Scotland will pay the remortgage conveyancing and valuation costs. Also, the rate for the 80% LTV Personal Choice Lifetime Tracker has been reduced from 4.99% to 4.89%.
All applications will be handled by Bank of Scotland’s Premier Team based in Edinburgh. A senior underwriter is assigned to each loan application for £500,000 or more, who then supports the intermediary in a variety of ways throughout the application process – for example they can advise on underwriting criteria during the preparation of the application.
Any complex applications can also be individually underwritten at the bank’s specialist intermediary mortgage centre in Edinburgh.
Self-Certification Range
Bank of Scotland Mortgages has also reduced the price of its 80% LTV Personal Choice Term Tracker from 5.69% to 5.49% and now offers Bank Base Rate of +0.99% tracking for the life of this product for loans up to £500,000. For the first time this product also now provides the option of a fees free remortgage service, great news for those looking to remortgage on a self-cert basis to a high loan to value.
Mainstream
For the mainstream audience Bank of Scotland Mortgages is launching a two-year Fixed Rate product at 4.55% to 90% LTV with the option of a fees free remortgage service. The lender is also reducing the rate on its 80% LTV* Personal Choice Lifetime Tracker from 4.99% to 4.89%.
Charles Haresnape, managing director of Bank of Scotland Mortgages, said: “At Bank of Scotland Mortgages we are committed to continually providing competitive rates for intermediaries to pass on to their clients. These changes to our large loan, self-certification and mainstream ranges will ensure that brokers have a choice of great deals to meet the needs of their audience, whether they are looking for a large loan, would suit a mainstream mortgage or have more complex requirements.”
