If you are an existing Scottish Widows Bank mortgage customer whose current mortgage deal is coming to an end, our free mortgage product transfer service can help you secure a new mortgage rate quickly and efficiently. We manage the entire process online, making it simple to arrange your new mortgage product without unnecessary paperwork or meetings.
When can I switch my Scottish Widows Bank mortgage?
Scottish Widows Bank allows eligible existing customers to reserve a new mortgage product up to four months before their current mortgage deal expires. Your new mortgage product can usually begin up to three months before your existing deal ends, or immediately if you are already on the Standard Variable Rate.
How our Scottish Widows Bank mortgage switch service works
- Contact our team by telephone or complete our secure online enquiry form.
- We obtain details of the mortgage products available specifically for your account.
- We explain each available mortgage option in clear, straightforward language.
- We help you identify the mortgage product most suitable for your circumstances.
- Once you have selected your preferred mortgage rate, we arrange your Scottish Widows Bank product transfer and guide you through to completion.
Benefits of a Scottish Widows Bank product transfer
- Secure your new mortgage rate before your current deal expires.
- No legal work is normally required.
- No property valuation is normally required for a straightforward product transfer.
- No early repayment charge applies if there are fewer than four months remaining on your existing fixed-rate product, or if you are switching from the Standard Variable Rate.
- The application process is generally quicker and simpler than arranging a full remortgage.
Eligibility
A standard Scottish Widows Bank mortgage product transfer is normally available where you are simply changing your mortgage product without changing your borrowing, mortgage term or repayment method.
You may not be eligible if your mortgage is in arrears, is a buy-to-let mortgage, includes a guarantor, exceeds the lender's product transfer limits or requires additional borrowing or other significant changes.
Why use our service?
- Our Scottish Widows Bank mortgage product transfer service is completely free of charge.
- We review all mortgage products available specifically for your account.
- We explain your options clearly and answer any questions you may have.
- We manage the application from start to finish.
- Where appropriate, we can also compare your Scottish Widows Bank mortgage options with products available across the wider UK mortgage market before you make your decision.