Scarborough launches new fixed-rate Isa

22-May-2007

In news which may be of interest to first time home buyers, Scarborough Building Society has announced the launch of a new fixed-rate Isa.

Available with an interest rate of 5.85 per cent, the new savings option offers an interest rate fixed for a period of three years, which may interest would-be first time home buyers looking to save for a deposit.

To find out about the different ways of financing a first home, see our section ‘Affording Your First Home’.

"With interest rates rising several times in recent months, we hope our new Isa will meet the needs of people looking to lock into the great returns now available," said Tony Burdin, head of group marketing at Scarborough Building Society.

"As a mutual building society, we believe we have a responsibility to encourage people to save," he added.

Indeed, the savings product allows customers to save up to £3,000 during the current tax year and is available to both Isa and Toisa customers.

Scarborough Building Society also offers a range of mortgages, including those for customers requiring self-certification and buy-to-let options.

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