Scarborough adds 25-year fixed rates

Product rates begin at 5.54 per cent with arrangement fees of £595.

The lender said it felt it was important to provide cost effective fixed rates for remortgagors coming off their existing deals and looking to balance the budget.

Scarborough's mortgage product manager Ella Bowles said: "With mortgage arrangement fees increasing and a trend towards percentage fees, it is no longer cost effective for everyone to shop around for a new deal by remortgaging every two years, which is why we have also added attractive 15 and 25-year fixed rate deals to our product mix.

"Both our rates of interest and arrangement fees are competitive – including our 15 and 25 year deals, an arena where customers have traditionally paid a higher premium for the peace of mind of knowing what their payments are going to be over the longer term."