A simples guide

Bank of Scotland Mortgages

The Bank of Scotland has established itself as a firm favourite in the mortgage market, even though it does not sell its own products but sells its sister brand Halifax’s home loans instead.


The two companies merged in 2001 and they both became a part of the Lloyds Group in 2009. This has given Scotland’s oldest bank a new range of products that have helped strengthen its proposition on both sides of the border.


Bank of Scotland has also established a strong following with landlords, thanks to its Buy to Let and commercial mortgages. And it is even helping those wanting to buy new builds by supporting the Help to Buy scheme.


Do you want a Bank of Scotland mortgage offer?

If you’re not sure you qualify for a mortgage and you want to check first, the Bank of Scotland is there to help. Prospective applicants can apply for an agreement in principle, which could be useful if you just want to know how much the Bank of Scotland would be willing to lend you so you can start looking for a property.

Before you commit to applying for a mortgage, you should always check out the competition. Use our price comparison service and make sure you compare all your options and make the right choice for you.

What mortgages do the Bank of Scotland offer?

The Bank of Scotland mortgage rates make it an attractive option for first-time buyers or those moving home and buying a new build by incorporating the Help to Buy scheme.

Inevitably the mortgage Bank of Scotland offers include fixed-rate terms up to five years and a number of different tracker mortgages that depend on the size of the deposit you have to put down.

The bank is also able to help people who want to re-mortgage their home or switch providers and will even welcome them with a £250 cash back deal. 

piggy bank and house

How much could I borrow?

The amount you can borrow depends on a number of factors, including your income, outgoings and any outstanding debts that you have to pay every month. Use the Bank of Scotland mortgage calculator to gauge how much you can borrow and the amount you’ll have to pay every month.  

As a rough guide, banks generally offer up to four times a single person’s salary or 2.5x a couple’s combined income. Affordability also comes into the equation, though, so use the calculator for a clear indication before you start looking for your dream home.

house keys

Make sure you compare

If you choose to go with the Bank of Scotland or you go with another provider, make sure you do your homework and have a look at our mortgage tables. Look behind the headline figures, check the percentage over the full life of the mortgage and look out for other benefits.

Some people want the freedom to take a payment holiday, others look for cashback deals or rewards. Whatever you do, make sure you shop around. We can help you there.

All Bank of Scotland mortgage details are based on information provided on bankofscotland.co.uk data on 19 April 2016

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