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Two year discounted rate from Standard Life Bank

Standard Life Bank is launching a version of its Freestyle mortgage, offering a discount rate of 4.9 per cent for the first two years, after which it reverts to the product&#39s variable rate, currently 6.9 per cent.

The mortgage is available for lending up to 90 per cent loan to value, and carries redemption penalties over the first four years of the term.

Standard Life bank director of sales and marketing David Macmillan says: “Thanks to the simplicity of our application process – whether by the internet or telephone – verbal agreement an be reached in a matter of minutes.”

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