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Scottish Widows BOE +1.59% for 2 years

Scottish Widows BOE +1.59% for 2 years
Overpayments allowed Portable Initial rate Reverts to Max LTV
Whether the deal allows you to pay more than you have to each month so you can pay your mortgage off more quickly and save on interest.
Whether the deal can be transferred to a new property if you move so you don’t have to pay charges for paying the mortgage off early.
The interest rate you'll pay during the initial deal period.
The interest rate you'll pay once the initial deal period ends.
The maximum amount you can borrow as a percentage of the property value.
Yes Yes 2.09% 3.99% 75.0%

Assumed borrowing of £125,000 over 25 years, representative 3.7% APRC. Total amount payable: £192,408.38. Includes interest of £67,153.38, Valuation fee of £255, Booking fee of £0 and Administration fee of £0. Repayments: 24 monthly repayments of £535.31 at 2.09% (variable), then 276 monthly repayments of £649.66 at 3.99% (variable).

Scottish Widows customer satisfaction scorecard:

How do we work this out?
Clarity of statements Flexibility of payments Transparency of charges Customer service Overall customer score
n/a n/a n/a n/a

Not rated

n/a = sample size is too small.

We have not been able to rate this provider as our customer satisfaction survey didn't generate a big enough sample of its customers but we aim to rate as many providers as possible


Maximum age 80
Minimum age 21
Location Any
Restricted location note N/A
Existing customer note N/A
Eligibility notes You must be 21 or over and a fully qualified, practicing and registered: Accountant, Actuary, Barrister, Dentist, Engineer, Medical Doctor, Optometrist, Pharmacist, Solicitor, Teacher and Vet. Trainee Accountants, Trainee Actuaries and Trainee Solicitors will also be considered.

Mortgage product details

Mortgage types Remortgage
Deal type Tracker
Tracker type Bank of England
Payment options Interest only, Repayment

Mortgage product features

Overpayments allowed Yes
Overpayment limits note An overpayment of up to 10% of the loan balance may be repaid once a year
Offset mortgage No
Help to Buy mortgage No
Shared ownership mortgage No
Shared equity mortgage No
New-build mortgage No
Self-build mortgage No
Portable mortgage Yes

Product fees

Arrangement fee £0
Arrangement fee can be added to loan No
Booking fee £0
Telegraphic transfer fee £0
Insurance fee £0
Other fees £0

Rate information

Minimum borrowing amount £50,000
Maximum borrowing amount £1,000,000
Minimum term (years) 5
Maximum term (years) 40
Initial deal end date N/A
Initial deal length (months) 24
APRC 3.73%
Initial rate 2.09%
Revert-to rate 3.99%
Maximum LTV 75.0%

Other charges

Exit fees £0
Valuation admin fee £0
Valuation fee From £140 for property value above £50,000
Early repayment note 2.65% then 1.10% until end of fixed period

Standard benefits

Valuation admin fee excluded from any refund offer Yes
Maximum free valuation £0
Cash back amount £0
Further notes about benefits Free Legals or if the property is in Northern Ireland, or where applicants use their own solicitor, Scottish Widows will offer £300 cashback.

Remortgage benefits

Cash back on legal fees No
Free legal work No
Valuation offer Free

Purchase mortgage benefits

Cash back on legal fees No
Free legal work No
Valuation offer Payable