Scottish Widows Bank (SWB) has cut the rates on a number of two-year fixed rate Professional and Flexible mortgages across its 60% LTV ranges.

The two-year fixed rate products being reduced include:

• 60% LTV fixed rate mortgage for professionals has been cut by 10bps to 1.99%, with a £999 fee
• 60% LTV fixed rate mortgage for professionals has been cut by 10bps to 2.49%, with no fee
• 60% LTV tracker rate mortgage for professionals has been cut by 10bps to 1.99% with a £999 fee (1.49% + 0.50% BOE base rate)
• 60% LTV fixed rate flexible mortgages have been cut by 10bps to 2.19% with a £999 fee
• 60% LTV fixed rate flexible mortgages have been reduced by 10bps to 2.69%, with no fee
• 60% LTV tracker flexible mortgage have been reduced by 10bps to 2.19% with a £995 fee (1.69% + 0.50% BOE base rate)

Mike Jones, managing director of Scottish Widows Bank, said: “There is a clear requirement for niche products, such as professional and flexible mortgages, from a segment of the home buying public and we are pleased to able to provide these.

“We are making a number of changes at the start of the year to our product range that will provide brokers with an even more competitive suite of products for their clients.”