Borrowers can also choose an alternative three-year fix at 3.99% (APR 4.9%) which has contributions towards costs. In addition, Standard Life Bank has cut its booking fee on the three-year fix for loans up to 75% LTV from £250 to £185, a reduction of 26%.
Commenting on the move, David Macmillan, director of sales and marketing, said: “We recognise that the popularity of short-term fixes is growing and these new products will suit a variety of borrowers. Coupled with a very competitive SVR, this new three-year fix highlights Standard Life Bank’s commitment to competitive rates.
“We are continuing to add flexibility to our fixed rate range with overpayment facilities which more savvy borrowers are taking advantage of. Borrowers are empowered to choose between a fixed rate mortgage with or without contributions to costs.”
