Sovereign Bank increased the HELOC introductory period from 6 to 12 months. The bank is now offering their 2.24% introductory fixed-rate for the first 12 billing cycles on its FlexLock Home Equity Line of Credit. After the promotional period, the rate will adjust to as low as Prime + 0.74% (currently 3.99% APR) on minimum credit lines of $100,000. To obtain this introductory rate, customers must have an existing or open a new Sovereign checking account with automatic payment. Click here for more information.