What do you want to know about our Professional Mortgage?
Professional Mortgage Interest Rates
One of the strongest features of the Scottish Widows Bank Professional Mortgage is the consistently competitive interest rates. And you have the added flexibility of a fixed rate, variable rate or a combination of both.
Maximum borrowing 90% of purchase price or valuation.
Free offset available on all discount, tracker and 2 year fixed rate products.
| Mortgage Deal | Rates Applicable | The overall cost for comparison is | Booking Fee (fee added to loan) | Product Fee (fee added to loan) | Redemption Fee (added to loan on redemption of the mortgage) |
|---|---|---|---|---|---|
| * This Product is only available on borrowing up to 500,000. | |||||
| 2 Year Fixed Rate Up to 75% LTV |
6.20% fixed until 30 September 2010, changing to our Standard Variable Rate, currently 6.49% for the rest of the mortgage. | 6.6% APR | £2,499* | n/a | £195 |
| 2 Year Fixed Rate Up to 90% LTV |
6.24% fixed until 30 September 2010, changing to our Standard Variable Rate, currently 6.49% for the rest of the mortgage. | 6.6% APR | £2,499* | n/a | £195 |
|
2 Year Fixed Rate Up to 75% LTV |
6.79% fixed until 30 September 2010, changing to our Standard Variable Rate, currently 6.49% for the rest of the mortgage. | 6.8% APR | £499 | n/a | £195 |
| 2 Year Fixed Rate Up to 90% LTV |
6.85% fixed until 30 September 2010, changing to our Standard Variable Rate, currently 6.49% for the rest of the mortgage. | 6.8% APR | £499 | n/a | £195 |
| 3 Year Fixed Rate Up to 75% LTV | 6.29% fixed until 30 September 2011, changing to our Standard Variable Rate, currently 6.49% for the rest of the mortgage. | 6.6% APR | £1,999* | n/a | £195 |
| 3 Year Fixed Rate Up to 90% LTV | 6.29% fixed until 30 September 2011, changing to our Standard Variable Rate, currently 6.49% for the rest of the mortgage. | 6.6% APR | £2,199* | n/a | £195 |
| 3 Year Fixed Rate Up to 75% LTV | 6.65% fixed until 30 September 2011, changing to our Standard Variable Rate, currently 6.49% for the rest of the mortgage. | 6.7% APR | £499 | n/a | £195 |
| 3 Year Fixed Rate Up to 90% LTV | 6.74% fixed until 30 September 2011, changing to our Standard Variable Rate, currently 6.49% for the rest of the mortgage. | 6.7% APR | £499 | n/a | £195 |
| 5 Year Fixed Rate Up to 75% LTV |
5.95% fixed until 31 October 2013, changing to our Standard Variable Rate, currently 6.49% for the rest of the mortgage. | 6.4% APR | £1,999* | n/a | £195 |
|
5 Year Fixed Rate Up to 75% LTV |
6.15% fixed until 31 October 2013, changing to our Standard Variable Rate, currently 6.49% for the rest of the mortgage. | 6.5% APR | £499 | n/a | £195 |
| 5 Year Fixed Rate Up to 90% LTV |
6.19% fixed until 31 October 2013, changing to our Standard Variable Rate, currently 6.49% for the rest of the mortgage. | 6.5% APR | £499 | n/a | £195 |
| Base Rate Tracker Up to 75% LTV |
0.99% above base rate for 2 years giving a current rate of 5.99% (variable), changing to our Standard Variable Rate, currently 6.49% for the rest of the mortgage. | 6.6% APR | n/a | £1,499* | £195 |
| Base Rate Tracker Up to 90% LTV | 1.49% above base rate for 2 years giving a current rate of 6.49% (variable), changing to our Standard Variable Rate, currently 6.49% for the rest of the mortgage. | 6.7% APR | n/a | £1,499* | £195 |
| Base Rate Tracker Up to 75% LTV | 0.75% above base rate for 3 years giving a current rate of 5.75% (variable), changing to our Standard Variable Rate, currently 6.49% for the rest of the mortgage. | 6.5% APR | n/a | £2,499* | £195 |
| Term Base Tracker Up to 75% LTV |
1.39% above base rate for the term of the mortgage giving a current rate of 6.39% (variable). | 6.6% APR | n/a | £499 | £195 |
| Early repayment charges | ||
| Mortgage Type | Early Repayment Charge | |
|---|---|---|
| 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. |
| 3 Year Tracker Rate (Variable Rate) |
Flexible/Professional | If the mortgage is repaid in full within the first 36 months, 2% of the amount of the mortgage taken at the outset will be charged. |
| Term 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. |
