Scottish Widows
Lifetime Mortgage
Changes as at 06/02/06
Scottish Widows Bank made changes to their Lifetime mortgage range this week. The new mortgage is fixed at 6.2% for the life of the mortgage. The mortgage comes with an early redemption penalty of 3% if the loan is redeemed within the first five years of borrowing. This mortgage type is available to borrowers over the age of sixty and is typically repaid when the owner(s) die or move into a retirement home.