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Market Ripe for Remortgaging with Scottish Widows

20 June 2017

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The mortgage market is still ripe for remortgaging. With some of the lowest rates on record and an increase in products available, competition is giving borrowers greater access to attractive deals. 

Customers also appear to be focusing on longer-term deals, so there’s no better time to translate your valuable advice into real benefits for them. 

Borrowers may think they need to wait for their current deal to expire before remortgaging, however, even those on high fixed or tracker rates may save money by exiting their current deal early. Revised repayments could work out cheaper even after early repayment charges, especially for those switching to a longer-term fixed rate deal, are taken into account.  Those on a competitive SVR could also save money with some of the remortgage deals on offer. 

New customers remortgaging to Scottish Widows Bank customers will benefit from a free valuation and either free legal fees or £300 cashback plus an offset option (exclusions apply).

Scottish Widows Bank currently offer two and five-year fixed and two-year tracker remortgage products.  All products come with offset as a standard feature of the mortgage.  

You can show customers the two-minute film “Introduction to Offset” on their website to demonstrate the benefits of offset and use their online calculator to illustrate how much they could save. 

For all of the information you need to do business with them and the latest rates, visit their website or speak to your Business Development Manager, who is on hand to deal with any queries you may have. 

PLUS

With effect from today, Tuesday 20 June, Scottish Widows are making the following change to their residential remortgage criteria: 

  • Minimum loan amount increasing from £50,000 to £150,000 for all residential remortgage applications. 

Pipeline

All pipeline remortgage applications between £50,000 and £149,999 from DIP stage onwards will be honoured. 

For more information call their Intermediary Support Team on 0345 845 0110.


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