Compare Bank of Scotland Mortgages

Wanting the best Bank of Scotland mortgage options for you?

The Bank of Scotland is a well-known UK bank with a very long history, offering a range of mortgages to their customers. Still, it can be very difficult to find the right mortgage for your needs.

Our simple quote comparison tool lets you compare mortgage options. You can compare Bank of Scotland mortgages with options from other providers. Comparing mortgage offers can help you find the best mortgage for your needs, and it can help you save money and find a great interest rate.

Do Bank of Scotland do mortgages?

Yes, the Bank of Scotland offers a range of mortgages to their customers. This includes fixed interest rate mortgages, flexible interest rate mortgages, and mortgages with a range of different Loan To Value percentages.

What is LTV?

LTV means Loan To Value. This is the amount you borrow from the bank as a percentage of the total value of the property you want to buy. The remaining percentage is the deposit you pay. For example, if you have a mortgage with a 90% Loan To Value percentage, your deposit would have to be 10% of the total cost of the house.

How much do you need for a house deposit with the Bank of Scotland?

Generally, the minimum deposit that mortgage providers will accept is 5%. Some mortgage providers offer options for people with lower deposit amounts or no deposit, but these are less common and you might not find them from all mortgage providers.

What is Bank of Scotland SVR?

SVR stands for Standard Variable Rate. A variable rate mortgage is a type of mortgage where the interest rate changes in relation to the national base interest rate, meaning it can go up or down.

Is a variable rate mortgage better?

There are benefits and disadvantages to both variable rate and fixed rate mortgages. A fixed rate mortgage will have the same interest rate for its duration, but a variable rate interest could go up or down. While a fixed rate guarantees consistency, a variable rate could be higher or lower than a fixed rate.

Are Bank of Scotland mortgages similar to secured loans?

Yes, mortgages are secured loans. A secured loan is when the amount is borrowed against an asset. For a mortgage, this asset is the house, meaning your house could be seized and sold if you don’t pay your mortgage payments as you agreed to do.

What is the base rate?

The base rate is the standard rate of interest set by a central bank. In England this is the bank of England. The base rate is what determines the rate of interest on variable rate mortgages.