If the only thing you want to move is your mortgage
In detail
Scottish Widows Bank wants to make remortgaging as easy and straightforward as possible. Here are some brief answers to some of the questions you might have:
What is included in the free Remortgage Package?
The Remortgage Package includes the standard legal fees normally charged by solicitors for their work on our behalf. Completion must be handled by our solicitors. This offer is not available in Northern Ireland.
Addtional services such as a transfer of title to the property, or first registration of the property in HM Land Registry are not included.
Our solicitors wont be able to give you legal, financial or tax advice on your remortgage. We recommend that you contact your own legal or financial adviser should you require such advice.
Alternatively, we can instead offer £300 cashback on completion. This offer is available in Northern Ireland.
Will I have to pay to have my home valued?
Not normally, but it depends on the size of the mortgage and the 'loan to value' — the percentage of the value of your property the mortgage represents:
- Up to 60% loan to value and below £300,000 mortgage loan — we will arrange an external valuation and cover the cost. Applies to properties with a maximum value of £1 million.
- Up to 60% loan to value and £300,000 and above mortgage loan — we will arrange a standard valuation and cover the cost. Applies to properties with a maximum value of £1 million.
- Between 60% and up to 75% loan to value and below £500,000 mortgage loan — we will arrange a standard valuation and cover the cost. Applies to properties with a maximum value of £1 million.
- Between 60% and up to 75% loan to value and £500,000 and above mortgage loan — we will refund up to £250 of the cost of the valuation on completion of the mortgage.
- 75% loan to value and above or £500,000 and above mortgage loan — we will refund up to £250 of the cost of the valuation on completion of the mortgage.
Which mortgages are suitable for remortgaging — will they suit me?
We currently offer a remortgage option for our Flexible and Professional Mortgages.
- Flexible Mortgage — lets you borrow up to 85% of the value of your property.
- Professional Mortgage — lets you borrow up to 90% of the value of your property if you are a qualified and practising professional.
How do i apply?
Before completing an application you should get a Key Facts Illustration (KFI)
Different ways you can get a KFI and apply
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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. |
- Contact our Mortgage Sales Team on 0845 845 0829
- Consult a Financial Adviser.
If you have any questions, please call our customer service staff on 0845 845 0829 (calls charged at local rates) — lines are open 8am to 6pm Monday to Friday, Wednesdays from 10am.
