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From Monday 19 February 2007, all new customers who start an application with Standard Life for a 2 year fixed rate mortgage will be able to benefit from Offsetting.

This means that clients can benefit from the security of a fixed rate of interest on their mortgage while making their savings work for them at the same time potentially saving thousands of pounds in interest by putting money into an Offset Reserve. Unlike a savings account, there is no tax to pay on the interest benefit gained by holding money in the Offset Reserve

Features:

Funds can be moved in and out of the Offset Reserve easily at any time via online banking or over the phone.

An upgrade fee of £99 is payable to activate the Offset Reserve. (This can be added to the loan)

For more information on how Standard Life Offsetting works follow the link below to our website or call us on 0845 60 33 173

Offset Mortgage Centre

New Rates to be Launched

At close of business Sunday 18 February, Standard Life will be withdrawing their existing Freestyle Residential 2 year fixed rate product.

On Monday 19 February we will be launching a new 2 Year Fixed Rate from 5.66% for loans up to 75% (the overall cost for comparison is 6.9% APR).