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Scottish Widows Bank Mortgage Product Transfer rates

Scottish Widows Product Transfer Fixed Rates up to 60% loan to value

2 year Fixed5.84%31/10/2026£060%
5 year Fixed5.27%31/10/2029£060%

Scottish Widows Bank mortgage rates for existing customers as of June 3, 2024

Scottish Widows Product Transfer Fixed Rates up to 75% loan to value

2 year Fixed6.14%31/10/2026£075%
5 year Fixed6.44%31/10/2029£075%

Scottish Widows Bank mortgage rates for existing customers as of June 3, 2024

Scottish Widows Bank Important Notice

On Friday 17th November Scottish Widows Bank will stop accepting new residential mortgage applications.

I am an existing Scottish Widows Bank customer how will this affect me?

We can continue to assist you with:

  • Securing a new Scottish Widows Mortgage Rate
  • Porting your mortgage rate to a new property
  • Changing borrowers on a mortgage

Your SWB Offset facility will continue and is unaffected.

If you are a Scottish Widows Bank mortgage customer seeking a Product Transfer Switch, and your current deal is coming to an end, we can assist.

We are specialists in working with Scottish Widows Bank, particularly in the Professionals market and can advise you on your Scottish Widows Mortgage Product Transfer and make all the necessary arrangements, painlessly, and without charge.

We do everything online which means:

  • No meetings
  • No paperwork
  • No fuss
  • No broker fees to pay

You will not have to spend your day on the telephone trying to arrange your Scottish Widows Bank Mortgage Product Transfer. Nor deal with documentation coming through the post as we do everything online.

No Broker fees from us for managing the Transfer on your behalf.

Rates current as of June 3, 2024

When can I select a new Scottish Widows Bank Product Transfer Rate?

Following a change in policy effective 25th September 2023, Scottish Widows Bank’s existing customers can now select and secure a new Scottish Widows Bank Product Transfer rate up to six months before their current mortgage product ends.

Example: Existing rate ends on 31st December, a new rate can be selected from 1st July

Your current rate endsNew rate can be secured fromThe new Rate can start
31st October1st May1st November
30th November1st June1st December
31st December1st July1st January
31st January1st August1st February
29th February1st September1st March
31st March1st October1st April
30th April1st November1st May
31st May1st December1st June
30th June1st January1st July
31st July1st February1st August
31st August1st March1st September
30th September 1st April1st October

About Scottish Widows Bank Mortgages

Scottish Bank Mortgages all come with a full Offset Mortgage facility.

This means that you can deposit your savings with Scottish Widows Bank and have the value of your savings ‘offset’ against your mortgage balance daily before your mortgage interest is calculated. This means you can get a return on your money equivalent to your mortgage rate without any income tax implications. You continue to have full, instant access to your savings at all times. This offset mortgage arrangement is ideal for the self-employed who may be putting money aside to cover a future tax bill.

Frequently Asked Questions

Can a company director get a mortgage?

Yes, a company director can get a mortgage. If that director owns less than 25% of the property, the lender will typically consider them employed. If they own more than that, they will typically be considered self-employed.

How much mortgage can a company director get?

The amount of mortgage a company director can get, as with all applications, will be based on income. Most lenders will consider PAYE and dividend income. Some will consider PAYE and share of post-tax profit.

Can you get a mortgage if you have a limited company?

Yes, you can get a mortgage if you have a limited company. If you do run a limited company, it is always best to use a mortgage broker as mortgage applications for limited company directors can be tricky.

Do dividends count towards a mortgage?

Yes, lenders will count dividends towards a mortgage. If you are not the majority shareholder, however, the lender may consider that the payment of dividends is not under your control.

Can I get a mortgage if I own my own business?

Yes, business owners obtain mortgages every day. If you are a business owner seeking a mortgage, you are best working with a mortgage broker as the applications can get quite tricky.

Can I borrow money from my business to buy a house?

Mortgage lenders will consider this a loan and they do not like using loans as deposits for a mortgage.