Standard Life launches discount and fixed products

The six-month discounted mortgage is available with a free Cash Reserve facility and all the products start from 3.2% (Typical APR 6.3%)*.

To help first time buyers, Standard Life Bank has also introduced the ability to add arrangement fees to the loan and will create a separate "fee" account for clients so that they can keep track of what they owe. Clients can also choose the term over which they pay back the fees, from three years to the full mortgage term. Freestyle Cash Reserve is now also available with

all the Bank's Freestyle® mortgages.

The Bank believes that its Freestyle® mortgage range remains one of the most flexible in the marketplace. Clients can take advantage of the flexible benefits of Freestyle, such as the ability to make overpayments, offset savings and use of the Cash Reserve facility as well as payment holidays (subject to status).

David Macmillan, sales and marketing director, commenting on the new products said: "As the General Election looms, both the housing market and the economy have been placed under the microscope. Buyers may now be reluctant to commit to a house purchase due to fears of interest rate rises and the impact of an election. In an uncertain environment our new discounted mortgages offer fantastic flexibility and our fixed rates offer first time buyers and re-mortgagers both security and peace of mind while the parties slug it out at the ballot box.

"These new products give introducers great rates coupled with the ability to give clients greater flexibility on more products. The add fees to loan option also means a reduced cash outlay for clients - ideal for first time buyers. We believe that Freestyle now offers the best of both worlds - clients can now choose our lowest rates (via no costs to contributions) and still take advantage of the flexibility of Cash Reserve."

Standard Life Bank has also added an Affordability Calculator to our website so that introducers can work out what we will be able to lend their clients at the click of a mouse.