The deal starts at a competitive rate of 5.59 per cnet for loans under 75 per cent LTV. It has a product fee of £499 which can be added to the loan, and borrowers can repay up to 10 per cent of the loan balance per year without ERC.
Richard Clark, head of product development and marketing at Scottish Widows Bank said: “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 stabilise this year, demand for fixed rate deals is likely to remain strong as borrowers look to protect themselves against any future rate increases."
