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Manage your mortgage
If you need some help with your current Bank of Scotland mortgage, you can find out about how to:
- manage your mortgage
- make a payment
- make changes to your mortgage
- get help and much more.
See our FAQs for help on managing your mortgage.
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1. How do I change my payment date?
You can call us and ask us to change your payment date as long as you choose a date which is no later than the 28th. If we work out your interest daily, the best day of the month to make your monthly payment is the 1st because we'll charge the least amount of interest for the month. Your monthly payment amount may rise or fall if you change the day.
We will update your mortgage details and change the date we collect your future direct debits. This may not be in the month of your request. If you change your payment date from the end of one month to the beginning of the next month, you may be required to make 2 payments within a relatively short timescale.
2. Can I take mortgage payment holidays?
You may be able to take a payment holiday. If you do, we will continue charging interest on your balance during the payment holiday period and add this to your balance. At the end of your payment holiday, we’ll work out your new monthly payments and let you know how much they are.
You cannot take a payment holiday if:
- The amount you owe exceeds 90% of our latest valuation of your property.
- You are renting or do not live at the property.
- Your mortgage payments are not up to date.
Further requirements can be found in your mortgage offer and terms and conditions.
3. How can I pay a lump sum off / extra money towards my mortgage?
If you want to make a lump sum payment or arrange a regular overpayment, call us.
You may have to pay an Early Repayment Charge if you are making a lump sum overpayment during an Early Repayment Charge period.
To find out if your mortgage is subject to an Early Repayment Charge and any concession that may apply, refer to your latest mortgage offer documentation or call us.
If you have a Personal Choice mortgage, there are no restrictions and you can make regular or lump sum overpayments. Any overpayments will reduce the balance outstanding on your mortgage and the amount of interest charged. For more details, call us.
4. How can I find out about my early repayment charges?
In the first instance you should refer to your most recent mortgage offer. If you have a fixed or tracker rate mortgage and are still within the fixed rate period or the tracker rate period then there may be an Early Repayment Charge if you repay the mortgage within this period.
To find out about any charges that would be payable on your specific mortgage, call us.
5. Can I change my monthly mortgage payment amount?
Overpayments
If your mortgage does not have an Early Repayment Charge, you can make partial overpayments of any amount without a charge. You may have to pay an Early Repayment Charge if you are making a lump sum overpayment or regular overpayments during an Early Repayment Charge period.
To find out if your mortgage is subject to an Early Repayment Charge and any concession that may apply, refer to your latest mortgage offer documentation or call us.
If you want to make a lump sum payment or arrange a regular overpayment call us.
Underpayments
You can underpay on your mortgage only if you have previously made overpayments of the same or greater amount and as long as we haven't used them when we worked out a new monthly payment. You need to contact us first to arrange to underpay.
If you have a Personal Choice mortgage, there are no restrictions and you can make regular or lump sum overpayments. Any overpayments will instantly reduce the balance outstanding on your mortgage and the amount of interest charged. Even a little bit extra each month can make an impact on the length of your mortgage term. You can also make underpayments to the value of 6 months mortgage payments every year.
For further details you can call us.
6. What is the Mortgage Exit Administration Fee?
A Mortgage Exit Administration Fee (we call this Repayment Administration Fee) may be payable on full repayment of your mortgage. Where this fee is payable it will be detailed in your mortgage offer and will be a maximum of £50.00.
If you have any queries regarding this call us.
7. What other fees apply to my mortgage?
Find out more about other charges that may apply to your mortgage.
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1. How do I pay off my mortgage in full?
You can repay your mortgage in full at any time, as long as you also pay any early repayment charges that apply.
To ask us for the total amount needed to repay your mortgage, call us to or use our contact us form to request a redemption statement. We will ask you what date you want to repay your mortgage so we can give you an exact figure that includes all costs and charges up to that date.
The redemption figure provided will not include any offset benefit for the current month. This will be calculated after redemption and sent to you.
If your property is in Scotland you will need to instruct a solicitor to arrange the discharge documents for the Registers of Scotland which will enable our charge to be removed. If you are already using a conveyancer, perhaps because you are moving house, they will usually ask us for the amount needed to repay your mortgage and will deal with repaying it.
You don't need to use a conveyancer to repay your mortgage if your property is in England and Wales or Northern Ireland as we will make arrangements to remove our charge at the Land Registry.
2. What is the current interest rate?
If you have a Fixed Rate Mortgage and are still within the fixed rate period, then the rate will be shown on your original mortgage documentation and your annual statement.
If your mortgage is on a variable rate such as a tracker rate or our standard variable rate, you can log in to online banking or call us to find out. If your mortgage is on a tracker rate, the rate you pay will be dependent upon the rate it is linked to, which is subject to change. Your offer letter will confirm what this rate is.
3. How do I get a duplicate annual statement?
We'll send you a mortgage statement each year, it gives you important details about your mortgage including how much you owe, what interest rates you pay, how much interest we've charged and the payments you've made each month.
If you do need a duplicate printed mortgage statement, call us and we'll get one posted out to your home address.
4. How do I get a Certificate of Mortgage Interest?
A Certificate of Mortgage Interest gives details of the interest charged to your mortgage account during a tax year, April to April. You can use it to help you complete your tax return or your accountant may have asked you to obtain one for the preparation of your annual accounts.
To request a Certificate of Mortgage Interest, call us and we'll get one posted out to your home address.
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1. Can I rent out my home?
If you don’t have a Buy to Let mortgage, you’ll need to ask for our agreement to rent out your home. You can find more information and how to apply by going to renting your home.
2. Can I change the term of my mortgage?
We will consider an application from you to change the term of your current mortgage. We will work out whether we think the new monthly payments are affordable for you before we agree to make any changes. The new monthly payment may be bigger or smaller depending on whether you are asking for the term to be increased or reduced.
If you want to extend your mortgage term we may ask for confirmation of your income, particularly where the mortgage term extends beyond retirement age.
If you have an Interest Only mortgage your payments won’t change and we’ll ask for confirmation of your repayment vehicle.
See how changing your term will impact your payments.
3. Can I remove a person from, or add one to, my existing mortgage?
If you share your mortgage with another person and you want to transfer the mortgage into one name, or if you want to add another person, call us.
4. Can I switch my existing Bank of Scotland mortgage to a new deal?
Looking to switch to a new deal? Let us guide you through the steps for switching to a new deal.
For further details you can call us.
5. Can I take my product rate to a new mortgage?
It is sometimes possible to take a product rate with you to a new mortgage on a different property. Your Mortgage Illustration and offer letter will say if any of your product rates can be taken to a new mortgage.
The product rate can only be taken to a new loan while the product rate period(s) applies. When the product rate period ends and you are paying interest at the lender variable rate, it cannot be taken to a new loan.
You will not be able to take your product rate with you if we don’t offer you a new mortgage. This means you will have to pay an early repayment charge if you repay your existing mortgage during the early repayment charge period.
For details of our available products call us.
6. How do I remortgage my home?
If you are an existing Bank of Scotland mortgage customer, you may not need to remortgage as you could switch to another deal with us. Find out more about new deals for existing customers.
You can call us. Or you could borrow extra money with additional borrowing.
7. Can I add a new savings account to my offset mortgage?
Yes, you will need to open an Access Saver or Access Cash ISA Bank of Scotland savings account and contact us so that we can link it to your mortgage. Once the account is linked, we will write to you to confirm and you’ll see the savings account on your next quarterly offset statement.
For details of the savings accounts and how to apply see here:
8. Can I change my mortgage from Interest Only to Capital & Interest?
We will consider an application from you to change the repayment type of your current mortgage. We will work out whether we think the new monthly payments are affordable for you before we agree to make any changes. The new monthly payment may be bigger or smaller depending on whether you are asking for the term to be increased or reduced.
We may ask for confirmation of your income, particularly where the mortgage term extends beyond retirement age.
If you have an Interest Only mortgage, we’ll ask for confirmation of your repayment vehicle.
If your mortgage begins with 70, you can call us to discuss.
If your mortgage begins with 79, you can request a repayment change.