Scottish Widows Bank, formed in 1995, specialise in savings and mortgage products. You can compare Scottish Widows Bank mortgages below.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
Although they are best known for their pensions and life insurance products, Scottish Widows also have a separate banking arm.
Established as a separate and slightly smaller operation to its bigger pensions, life insurance and investments sister business, Scottish Widows, Scottish Widows Bank has since managed to grow its side of the business significantly in the savings and mortgages sector.
Despite Scottish Widows having been long established as a key provider of pensions and investments before the founding of Scottish Widows Bank, the banking arm has aimed to provide its customers with the flexibility and efficiency of a modern banking service, backed by the brand's proud history and trust within the public as a financial services provider.
Scottish Widows Bank was formed in May 1995 with just 18 employees but has kept up with the pace of customers' demands by not only employing over 200 staff in their Edinburgh headquarters, but by also expanding the breadth of their product range.
In 1995, Scottish Widows Bank primarily focused its foray into the banking industry on savings products, but here they have since expanded their range to include personal and non-personal savings accounts with fixed term and easy-access options both available, as well as mortgages.
It was only a couple of years later in 1997 when Scottish Widows Bank decided to make the most of its burgeoning reputation and start offering mortgages alongside its other financial services products.
Scottish Widows Bank became one of the first lenders in the industry to offer a flexible mortgage, and in 1998 they located an area where the market was failing to deliver to customer needs, and launched a mortgage offer specifically designed for professionals.
Their professional mortgages are aimed at fully trained and some trainee professionals, such as accountants, medical doctors, teachers and engineers. Many of Scottish Widows Bank's mortgages have up to 90% loan to value, depending on individual circumstances and applications.
Since then Scottish Widows Bank has continued its efforts to develop mortgages to meet market and specific customer demands.
Meanwhile their flexible mortgages range offer mortgages for self-employed and employed people. There is also the possibility of taking out an offset facility on most of the mortgages which Scottish Widows Bank provides, allowing customers to offset their savings against their mortgage.
This means you can either choose to pay off your mortgage early or lower your monthly repayments using your savings.
In an awards ceremony recognising the best providers and products in the mortgage market over the 2014-15 period, Scottish Widows Bank came out top in the category, Best Offset Mortgage Lender.
Depending on your circumstances and needs, there are a range of rates and Loan to Value options to compare from Scottish Widows Bank's mortgage offers.
uSwitch is authorised and regulated by the Financial Conduct Authority (FRN 312850) to provide this mortgage comparison service.
uSwitch services are provided at no cost to you, but we may receive a commission from the companies we refer you to.