Government schemes

We're proud to offer mortgages provided by Halifax.

Bank of Scotland supports a range of government backed initiatives including the mortgage guarantee scheme and Help to Buy. So if you're a first time buyer or a home mover, there could be a scheme to help you.

Mortgage guarantee scheme

You can apply for a first time buyer or home mover mortgage of up to 95% of the property’s value under the Government’s mortgage guarantee scheme.

If you’re planning to put down a deposit of at least 5% but less than 10%, to qualify you’ll need to be:

  • a first-time buyer or home mover
  • thinking about borrowing less than £570,000.
  • buying a property that’s not a New Build, Shared Ownership, Shared Equity, Right to Buy or buy to let
  • applying for a qualifying mortgage by 31 December 2022 (however, the scheme may be withdrawn earlier)
  • applying for a mortgage with a loan to value (LTV) of more than 90% and less than, or equal to, 95%.
  • thinking about getting a repayment mortgage and not interest only.

Lending is subject to an affordability assessment, credit score and a full mortgage application. You can apply for a mortgage under the scheme by following our usual application process.

First time buyer mortgages

Home mover mortgages

You could lose your home if you don't keep up your mortgage repayments

Talk to one of our mortgage advisers

At Bank of Scotland we are proud to offer our customers mortgages provided by the Halifax, who have over 160 years' experience helping people own their homes.

You can begin your full mortgage application by calling us on 0345 300 2297. Lines are open Monday to Friday 9am-8pm and Saturday 9am-4pm.

Or, you can book a telephone appointment with a mortgage adviser at your local branch. 

Request an appointment

Other Government schemes in Scotland

  • Bank of Scotland is supporting the Governments Open Market Share Equity (OMSE) scheme. If you cannot afford the full price of a home for sale in the open market you might be able to get help through the OMSE scheme.

    It is available across Scotland. It's open to first-time buyers and these priority access groups:

    • people aged 60 and over
    • social renters (people who rent from the council or a housing association)
    • disabled people
    • members of the armed forces
    • veterans who have left the armed forces within the past two years
    • widows, widowers and other partners of service personnel for up to two years after their partner has lost their life while serving

    Eligibility criteria and exclusions apply. For more details speak to a Mortgage Adviser.

    How does Open Market Share Equity work?

    1. Contact the agent below in the area you would like to live. 

    2. Speak to one of our mortgage advisers to start your application by calling us on 0345 300 2297 (Monday - Friday 8am - 8pm, Saturday 9am - 4pm).

    More information is available on the Scottish Government Website.

  • If you can’t get a mortgage to buy a property outright, a shared ownership scheme could enable you to buy a 25-75% share in partnership with a social landlord like a housing association. You would then pay ‘rent’ on the share that you do not own to the landlord.

    For example, if you bought a 50% share of a property at £100,000 then you would rent on the remaining £50,000.

    When you part-buy, part-rent a home through shared ownership, you can apply for a smaller mortgage – so your deposit could be lower too.

    Eligibility criteria and exclusions apply. For more details, speak to a mortgage adviser.

    How does Shared Ownership work?
    1. Contact the agent below in the area you would like to live. 
    2. Speak to one of our mortgage advisers to start your application by calling us on 0345 300 2297 (Monday - Friday 8am - 8pm, Saturday 9am - 4pm).
    3. Find a property and make an offer.
    4. Complete your mortgage application.

    For more details on Shared Ownership, visit the Scottish Government website.

  • Bank of Scotland is supporting the Governments MoD Forces Help to Buy scheme, which allows forces personnel to borrow up to £25,000 interest free (repaid over 10 years) to use as a deposit when buying a property to be used as their main home.

    You can apply for a mortgage through a Bank of Scotland branch or over the telephone; remember to tell the mortgage adviser the deposit is being provided through the Forces Help to Buy scheme.

    How to use Forces Help to Buy
    1. Seek advice through your Chain of Command and personnel agency.
    2. Speak to one of our mortgage advisers to start your application by calling us on 0345 300 2297 (Monday - Friday 8am - 8pm, Saturday 9am - 4pm).
    3. Find a property and make an offer.
    4. Complete your mortgage application

    For more details on Forces Help to Buy visit the UK Government website.

  • The Help to Buy: ISA is closed for new applications.

    If you already have a Help to Buy: ISA you can still save and claim the Government 25% bonus (minimum £400 and maximum £3,000).

    You can also still transfer your Help to Buy: ISA to us from another bank or building society.

    For more details please call us on 0345 300 2297 (Monday - Friday 8am - 8pm, Saturday 9am - 4pm) or view our Help to Buy: ISA information.

Bank of Scotland is supporting the Governments Help to Buy scheme. There are two types of Help to Buy (Scotland) scheme:

  • the Affordable New Build scheme
  • the Smaller Developer scheme

Both work in exactly the same way, and the agent who handles the schemes will tell you which one you'll be applying for depending on which home you want to buy.

The schemes are open to first time buyers and existing homeowners and helps you with up to 15% of the purchase price of a new build home.

You may only buy a new build home from a builder who is registered with the scheme. The Scottish Government has a list of participating home builders.

Eligibility criteria and exclusions apply. To learn more about current scheme availability and criteria, visit the Scottish Government website, or speak to a Mortgage Adviser.

How does Help to Buy work?

1. Ensure your mortgage and deposit covers a combined minimum 85% of the total purchase price

2. Ensure the value of the new build is not over the maximum threshold prices for the scheme

3. Speak to one of our mortgage advisers to start your application by calling us on 0345 300 2297 (Monday - Friday 8am - 8pm, Saturday 9am - 4pm).

For more details on Help to Buy, visit the Scottish Government website.

First Home Fund

The First Home Fund is fully committed for 2021-22 and applications are now closed. The scheme will not reopen for financial year 2022-23.

What is the First Home Fund?

The Scottish Government’s First Home Fund is a shared equity scheme that helps first-time buyers purchase a property that meets their needs in an area they want to live. 

The scheme will provide you with up to £25,000 towards the purchase of a home and can be used for both new build and existing properties. 

Buying through a shared equity scheme means you split the cost of purchasing the property with the Scottish Government. You will fund your share through a deposit and a mortgage, with the remaining share being provided by the Scottish Government. 

Eligibility criteria and exclusions apply. More information is available on the Scottish Government website.