What Mortgage type used for LEM additional rates?

[OnTheMove]

When somebody borrows over 80%, you get the LEM .3%. .75% etc added depending how much you are borrowing.

Which loan type is used, a standard variable rate or can the borrower choose a fixed rate?

This is for owner occupied with view to using as investment long term (once it is paid off)

[OnTheMove]

The person in question got a 95% approval but will only need 85%, so they should pay off the 5% extra fast.