Scottish Widows Bank Mortgages

Our powerful mortgage comparison tools have quickly identified and displayed all the mortgages from the Scottish Widows Bank. View their entire mortgage range and compare deals on fixed, variable rate and tracker. Use the comparison tools to compare against other lenders to see who is offering the cheapest rates and mortgages that match your requirements.


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About Scottish Widows Bank Mortgages

Founded as a separate and slightly smaller operation to its bigger pensions, life insurance and investments business, the Scottish Widows, Scottish Widows Bank has grown its side of the business significantly in the savings and mortgages sector. Scottish Widows Bank was the first lenders in the industry to offer a flexible mortgage, and in 1998 they located an area where the market was failing to deliver to customer needs, and launched a mortgage offer specifically designed for professionals. Their professional mortgages are aimed at fully trained and some trainee professionals, such as accountants, medical doctors, teachers and engineers. Many of Scottish Widows Bank's mortgages have up to 90% loan to value, depending on individual circumstances and applications.

Meanwhile their flexible mortgages range offer mortgages for self-employed and employed people. There is also the possibility of taking out an offset facility on most of the mortgages which Scottish Widows Bank provides, allowing customers to offset their savings against their mortgage. This means you can either choose to pay off your mortgage early or lower your monthly repayments using your savings.

The bank is currently offering 2-year fixed rates up to 50 per cent loan-to-value (LTV) from 1.19 per cent with a £999 fee, rising to 1.45 per cent with a £1,999 fee for lending of more than £1m at an LTV of 50 per cent and over. Meanwhile, 5-year fixes are available from 1.75 per cent at up to 50 per cent LTV and 1.99 per cent between 50 and 75 per cent LTV. Both options come with a fee of £999.

Professional Mortgage

  • Available for new purchases and remortgages up to 90% Loan to Value.
  • Fixed and variable rates available.

Flexible Mortgage

  • Available for new purchases and remortgages up to 90% Loan to Value.
  • Fixed and variable rates available.

Existing Customers

  • Further borrowing and offsetting options on your existing mortgage Subject to normal lending criteria.
  • Protection for life
  • Cover for all your protection needs.

The Core Features of Scottish Widows Bank Mortgages

  • They accept applications from both limited company contractors and PAYE umbrella company contractors.
  • Scottish Widows are far more flexible towards the industry that the contractor works within, and will accommodate contractors across all sectors.
  • In addition, they offer flexible offset products at market-leading rates. A particularly good feature of the offset mortgage offered by Scottish Widows Bank is the option to have offset savings balances reduce the monthly mortgage payment, or reduce the term of the mortgage.
  • Many offset mortgages allow one or the other of these options. Scottish Widows Bank will even allow the borrower to switch back and forth between the two up to four times a year, putting the flexibility on offer with this option among the best available from mainstream lenders.

How does it work?

Scottish Widows considers the gross value of your current contract evidence of income. It’s not difficult to work out your annual income for affordability purposes. You can check your eligibility for your desired mortgage on the website and submit an application online.

The Final advice

If you have a good credit and need traditional, flexible and affordable mortgage solutions, Scottish Widows Bank serves as a great choice.