Flexible Mortgage

What do you want to know about our Flexible Mortgage?

Flexible Mortgage Interest Rates

The Scottish Widows Bank Flexible Mortgage has a range of features and benefits. And you have the added flexibility of a fixed rate, variable rate or a combination of both.

You could borrow up to 85% of the purchase price or valuation (subject to lending criteria) and free offset – which could help you pay off your mortgage sooner or reduce your monthly mortgage payments – is also available on all 2 year fixed and all variable rate products.

Early Repayment Charges apply during discounted / fixed periods.

If you're unsure what mortgage would best suit your needs you should seek independent financial advice.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Interest Rates effective from Monday 6 February 2012

We reserve the right to change our product rate at any time.

2 Year Fixed Rates

Variable Rates

2 Year Fixed Rates
Loan to Value	Initial Rate	Followed by our Standard Variable Rate, currently	The overall cost for comparison is	Booking Fee (added to loan)	Repayment Method	Maximum Loan
All products available for house purchase only. Offset is available on all 2 Year Fixed Rate products. All products have a £195 Redemption Fee which is added to loan on redemption of the mortgage. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Up to 75%	3.79% fixed until 30 April 2014	3.99% for the rest of the mortgage	4.0% APR	£999	Repayment* or Interest Only**	£1,000,000 *£500,000
Up to 85%	4.89% fixed until 30 April 2014	3.99% for the rest of the mortgage	4.3% APR	£999	Repayment	£1,000,000

Variable Rates
Loan to Value	Initial Rate	Followed by our Standard Variable Rate, currently	The overall cost for comparison is	Product Fee (fee added to loan)	Repayment Method	Maximum Loan
All products available for house purchase only. Offset is available on all Variable Rate products. All products have a £195 Redemption Fee which is added to loan on redemption of the mortgage. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Up to 75%	3.19% above Bank of England base rate for 2 years giving a current rate of 3.69% (variable)	3.99% for the rest of the mortgage	4.0% APR	£999	Repayment* or Interest Only**	£1,000,000 *£500,000
Up to 85%	4.29% above Bank of England base rate for 2 years giving a current rate of 4.79% (variable)	3.99% for the rest of the mortgage	4.2% APR	£999	Repayment	£1,000,000

	Mortgage Type	Early Repayment Charge
Early repayment charges
Fixed Rate	Flexible/Professional	Up to 10% of the loan balance may be repaid once a year by cheque, without an early repayment charge. If any extra payments are made to the mortgage account prior to the expiry of the fixed rate period, a charge equal to 3% of the amount of the extra payments will be payable. Extra payments include repayment of the mortgage in full.
2 Year Tracker Rate (Variable Rate)	Flexible/Professional	If the mortgage is repaid in full within the first 24 months, 2% of the amount of the mortgage taken at the outset will be charged.
Base Rate Term Tracker (Variable Rate)	Flexible/Professional	If the mortgage is repaid in full within the first 24 months, 2% of the amount of the mortgage taken at the outset will be charged.

View interest rates for other Scottish Widows Bank products