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Scottish Widows Remortgage

Compare the Top UK Remortgage Deals

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A Scottish Widows remortgage comes with the added security of one of the UK’s strongest brands. The bank’s flexible packages could be an option even if you’ve been rejected by other lenders – its underwriters consider individual circumstances, not just proof of income. By using the in-house conveyancing service, you could also enjoy free valuations and legal fees.

Scottish Widows Review

Scottish Widows Bank is owned by the Scottish Widows Group Ltd. The Group was founded in 1815 as Scotland’s first mutual life office, and demutualised in 2000 to become part of the larger Lloyds Group.

Scottish Widows Bank offers credit cards, high-interest deposit accounts and mortgages to its members. It received a Gold Standard Award for Mortgages in 2006.

The Scottish Widows remortgage deals above could let you:

  • Make over- and under-payments flexibly according to your monthly income
  • Get a better return on your savings by offsetting them against your mortgage borrowings. Because you’re saving interest, there’s no tax to pay
  • Access a separate ‘Mortgage Reserve’ for expenses such as home improvements, holidays or school fees

What is a remortgage?

A remortgage is when you replace your existing mortgage with a new one. There are many reasons for remortgaging, but the majority fall into one of the two following categories:

    • Remortgaging to save money – If you have a fixed rate mortgage deal, your interest rate will usually switch to the lender’s Standard variable Rate (SVR) which is likely to be higher and will probably mean that you have to pay more each month. By switching to a better deal with a different mortgage provider, remortgaging could potentially allow you to benefit from lower interest rates and lower monthly mortgage repayments.
    • Remortgaging to raise money – Remortgaging can allow you to release some of the equity in your home. This could be useful if you wanted to carry out repairs to the property, add an extension, help your child with their own mortgage deposit, or consolidate other existing debts.

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