Standard Life offers new Isa promotion to mortgage customers

Standard Life Bank has launched a new offer whereby customers who take up a particular mortgage will also be granted access to one of its Isa packages.

The deal is available to all borrowers taking up a freestyle residential, buy-to-let or lifetime mortgage.

An annual equivalent rate (AER) of 5.5 per cent will be offered on the Isa deal in this promotion, as well as a savings bonus of £100 subject to eligibility.

Applications for mortgages must be received by December 31st and the £100 bonus will be paid on the condition that the mortgage clears before the start of the new year. The Isa rate will revert to 4.85 per cent should customers redeem the loan on their home.

Andrew Boddie, head of marketing for Standard Life Bank, urged customers to move quickly if they want to take advantage of this offer.

"Both the rate and the £100 bonus are available for a limited period only, so the sooner new mortgage customers open an account, the sooner they can take advantage of this handy boost to their savings," he said.