Borrowers can choose from five-year fixed and tracker deals and on completion of the mortgage they will take free delivery of a state of the art Sony WEGA 42” Plasma TV complete with stand, which has a recommended retail price of £3,299.99. The Plasma TV offer is available from Friday 21st January.
The Plasma Flexible Base Rate Tracker offers an initial rate of 4.99%, whilst the Plasma Flexible five-year Fixed Rate offers borrowers a guaranteed rate of 5.49%. Both products offer a refund of valuation fee plus a £250 cash-back on completion, which will be attractive to people looking to transfer their existing home loan.
Commenting on the new Plasma Mortgages John Carrier, Scarborough’s Chief Executive, said: “For the majority of people, a mortgage is a relatively boring yet important necessity. Our Plasma Mortgage represents great value on its own, but also provides the customer with a quality product that should give them and their family many years of enjoyment. It is all part of our strategy of aiming to be different, by retailing financial products and services that are more interesting and rewarding for people.
“With a recommended retail price of just less than £3,300, borrowers with a typical £90,000 mortgage would have to find a deal that offered a rate 0.75% less than our own over five years to be any better off. Most working families, particularly with young children, would find it difficult to spend this sort of money on an electrical item, but the Plasma Mortgages offer the best of both worlds – a competitive rate and a top brand TV delivered direct to your home”.
