Existing mortgage customers

You can temporarily make interest only payments for a maximum of six months, to give you some time to get back on track with your budget. With a term extension, you could make reduced payments for longer. Both options mean you'll pay back more overall, but a term extension could mean you'll be paying your mortgage later on in life.

If you extend your mortgage term past your planned retirement age, we'll need to ask you some questions about your income. You can choose to go back to your original term within the first 6 months without an affordability check.

Illustrative examples

Mortage details:

• Remaining balance: £200,000
• Remaining term: 25 years
• Interest rate: 5%
• Current monthly payment: £1169.18
   

These examples are for illustrative purposes only and assume there are no other changes to the mortgage over the remaining term.

Need a bit of breathing space with your mortgage payments? Switch to interest only payments, with no impact on your credit score.

How it works

• You've make interest only payments towards your mortgage for six months, with no impact on your credit score.
• You can cancel at any point, but you only apply once.
• Your monthly payments will increase at the end of the reduced payment period to collect the amount you haven't paid.
• You'll pay back more on your mortgage overall if you make interest only payments for six months.

There are a number of steps you can take to help with the situation:

• If you’re struggling with your financial commitments, you should pay all your essential bills first, for example your mortgage, utility bills, insurances, council tax and housekeeping. You should ensure you pay these essential bills first before making any payments towards credit cards or loans.
• Check whether you can get any state benefits or tax credits which could help to increase your income.
• If you have an insurance policy, for example income protection insurance, check whether this could help with your payments.
• Seek debt advice, for example from Citizens Advice, if you'd like help managing your finances.
• Make sure you keep all joint mortgage holders, and anyone acting as a guarantor on the mortgage, up to date with what's happening.
• Get back to us quickly if we try to contact you to discuss your mortgage.

If you've fallen behind with your payments, we'll do the following:

• Attempt to contact you as soon as possible.
• Give you a reasonable period of time to pay back the debt.
• Where you can afford to, we may be able to set up a repayment plan. Depending on your circumstances this might be a short or long-term plan, but will always be aimed at getting your mortgage back on track as soon as possible. This can involve agreements to make lower or no payments for a limited period while you get back on your feet.​
• We may be able to change the method you use to make your monthly payment or the date you pay them on.​
• We may be able to change some or all of your mortgage to help you to lower your monthly payments and make your mortgage more affordable. This could include a change in the term of your mortgage or a different repayment type. These options are all depending on eligibility. Our colleagues will be able to explain them to you in full.​
• You can ask us to put a hold on your account for 30 days. This will give you the time and space to get some independent help and advice to help you with your money worries. You could also use this time to fill out a budget so you’re ready to discuss your options. While you do this, we can stop calls asking you to contact us about your missed payments. This isn’t a payment holiday – your monthly payments will still be due on their normal date.​
• If you know you can’t afford your monthly payments and we’ve been through all other options with you, we can help you exit your mortgage but you may need to sell your property to repay the loan. We have partners that can help market the property and manage the sale with you or you can sell it yourself.​
• You may benefit from speaking to an external independent debt advice providers. We can arrange for someone to provide you with free advice through our partnership with StepChange.

If we can’t offer you any of the options above, we’ll tell you why. If we’re able to offer one or more of them, we’ll explain how each option would work and give you time to consider it.

You may wish to talk to a professional adviser, such as a debt counsellor or a lawyer, before you change your mortgage arrangements. We strongly advise that you seek independent, free debt advice.

StepChange

Who are they?

StepChange have a team of debt experts that help hundreds of thousands of people a year to deal with their debt problems. With 30 years' experience, you can be confident that they can provide the advice and support you need to achieve long-term financial control.

What support can they offer?

• 24/7, free flexible debt help based on your situation to get your finances back on track
• a wide range of practical debt solutions and support for however long it’s needed
• access to a benefits calculator and cost-of-living budgeting advice
• homeowner support through specialist mortgage and equity release teams.

How to get in touch

Call: 0800 138 1111 (Lines open Mon-Fri 8am-8pm, Sat 9am-2pm).

If you would like to find more information online, please visit StepChange.

What will you need when you speak to them

• your income: any wages, benefits or other forms of income
• your outgoings: how much you spend each month on rent/mortgage, utilities, food, travel, and any other essential costs
• any debts you have, such as: Credit Cards, Loans, Car Finance, and any arrears on rent, utilities or Council Tax.

Money Wellness

Who are they?

Money Wellness are passionate about improving financial wellbeing, offering free advice and support to over a million people for the last 30 years. 

What support can they offer?

• free debt advice
• free ongoing debt solutions
• free benefit and grant eligibility assessments
• partnered with additional support providers to offer mental health, gambling and addiction support where required.

How to get in touch

Call: 0800 307 7002 (Lines open Mon-Thurs 9am-8pm, Fri 9am-4.30pm, Sat-Sun 10am-4pm).

We also offer:

• A callback option and calendar you can access
• webchat and email communication channels.

What will you need when you speak to them

• your income: any wages, benefits or other forms of income
• your outgoings: how much you spend each month on rent/mortgage, utilities, food, travel, and any other essential costs
• any debts you have, such as: Credit Cards, Loans, Car Finance, and any arrears on rent, utilities or Council Tax.

Ensure you have at least an hour available for an advice session.

Costs and charges

If your mortgage goes into arrears, we may charge you for administration and legal costs. We’ll tell you the amount you’ll have to pay.

Legal proceedings

If we can’t agree on a solution with you to clear your arrears, we may go to court to start proceedings to repossess your home. If proceedings take place, it’s strongly recommended that you attend the court and that you seek independent debt advice.

The commencement of court proceedings does not necessarily mean that we’ll repossess your home. We’ll keep trying to solve the problem with you. Repossession is a last resort.

If your home is repossessed, we’ll give you advice about getting in touch with your local authority to see if they can find you somewhere else to live.

If your home is eventually repossessed:

• We'll sell it for the best price we can reasonably achieve. We'll try to sell it as soon as possible.
• We'll give you a reasonable time to take your possessions from your home.
• We’ll use the money raised from selling your home to pay all loans and charges secured by your mortgage.
• If there’s any money left over, we’ll pay it to you.
• If there’s not enough money from the sale to pay off the entire mortgage, you’ll still owe us the amount that’s left over (a shortfall debt). We’ll tell you what this is as soon as possible.
• If you bought your home with other borrowers, each of you’ll be responsible for all the money borrowed. This is true even if you normally only pay part of the mortgage.
• We’ll take account of your income and outgoings when trying to arrange a suitable payment plan for this shortfall debt with you.
• If we can’t arrange a plan, we may go to court to recover the money, and you might have to pay additional court costs.
• If a shortfall debt is not paid, it could affect whether you are able to get credit in the future.

If you think that we haven't treated you fairly in dealing with any arrears on your mortgage, first please talk to us and let us know what the problem is. Please visit our complaints page for more information.

Debt management firms

Debt management firms who help consumers create debt management plans need to be authorised by the Financial Conduct Authority (FCA). From 1st January 2015 some firms may no longer be authorised by the FCA so will not be able to offer any services and will have to cease trading.

What do you need to do if you discover the debt management firm you use is no longer authorised by the FCA?

Don't worry

Free high quality debt advice is available to help you decide on what to do next.

Act quickly

Contact us to advise of your situation. We’ll give you some time to sort out another plan with another debt management firm but you need to act quickly because you’re still responsible for paying your debts.

Contact us

Contact us on 0800 001 5145.

Our lines are open 9am to 5pm Monday to Friday.

Calls may be monitored and recorded.

Useful links

Citizens Advice

Money Helper

National Debt Line

A mortgage could be a cost effective way of borrowing money. That's why Scottish Widows Bank mortgages give you the option of borrowing extra money - in addition to your main mortgage.

You may be able to apply for a additional borrowing of £5,000 or more, subject to our lending criteria, once you’ve held your mortgage with us for six months or more. To apply for additional borrowing please consult your mortgage adviser. If you don’t already have a mortgage adviser you can use the links at the bottom of the page to find the help you need.

You can use the cash raised from additional borrowing however you choose, for example you could use it to pay for:

• A new car, wedding, or holiday
• Home Improvements
• Planning for a child’s school fees, or the cost of higher education

Additional Advance borrowing is charged at our Standard Variable Rate, and a £199 arrangement fee applies.

There are no restrictions on overpayments on our Standard Variable Rate, so you could pay it off sooner, either by setting up additional monthly overpayments with your Direct Debit, or simply making additional overpayments as and when you choose.

It’s also possible to apply for additional borrowing on Capital Repayment or Interest Only, regardless of the repayment type of your main mortgage (subject to meeting our Interest Only criteria), giving you the flexibility to have the mortgage product which most suits your circumstances. All Interest Only borrowing is subject to evidence of a suitable repayment vehicle from our acceptable list.

• Minimum amount £5,000
• Maximum capped at 85% of the current value of the property (75% for interest only), subject to assessment
• Repayment or interest only
• Minimum term two years, maximum 40, or to age 80 if less
• Charged at Scottish Widows Bank Standard Variable Rate
• £199 arrangement fee.

If you have a Lifetime Mortgage or Retirement Home Plan restrictions apply.

We’ve put together the answers to some of the most commonly asked questions about our mortgages. If you have a question that we haven’t answered here, please call us on 0345 845 8555 (option two). Our lines are open 8am to 6pm Monday to Friday. Alternatively, you can also send an email to our customer service team if you have a general enquiry.

Can I change the date of my mortgage direct debit payment?

No, we only collect Direct Debit payments on the first working day of each month.

Why can't I view my Offset Saver Account on my internet banking?

When logged in, double click on your main mortgage to view your Offset Saver Account.

My mortgage has redeemed but you have still taken my direct debit payment?

If you’ve redeemed towards the end of the month it’s possible that we have been unable to stop the collection of your Direct Debit payment. If this is the case, we will refund this payment to your nominated bank account around the 15th of the next month.

How much can I pay towards my mortgage as an overpayment?

If you have a fixed rate mortgage, every 12 months you may make one lump sum payment of up to 10% of the current balance.

If you have a tracker or variable rate mortgage, there are no limits on the number of overpayments you can make.

Can I rent my property out?

You can apply for Scottish Widows Bank’s consent, to let out your property. If agreed, there is a fee of 0.5% .This fee is charged annually for short-term letting arrangements, (not applicable for buy to let mortgages). The 0.5% is calculated on the total outstanding balance of the mortgage, including any further drawdowns, as at the 1st of the month in which consent to let is granted. The fee is non-refundable, even if the property is let for less than 12 months or the mortgage is redeemed in full.

To apply for consent to let complete the Consent to Let Application Form (PDF, 547KB) and return this to us. Please contact us on 0345 845 8555 (option two) if you have any questions.

Do you have bank details so I can send money to my mortgage account/offset saver account?

Yes. You can send payments to us in the following ways:

Online using Internet Banking from an existing Scottish Widows Bank savings account or your nominated external account.

Using Telephone Banking from an existing Scottish Widows Bank savings account or your nominated external account.

Send a cheque (personal bank / building society account) payable to ‘Scottish Widows Bank’ <applicant’s name> to: Scottish Widows Bank. PO Box 883, Leeds, LS1 9TY. Please write your account number on the back of your cheque.

From your nominated account using the following details

Sort code 30-18-05
Account number 00030372
Reference <Mortgage Acc no/Mortgage Reserve Acc no/Offset Saver Acc no>. Account numbers can be found on your Annual Statement, on Internet Banking or by calling us.

Keeping your account safe

We’ve introduced a new way to keep your payments even safer. The Confirmation of Payee (COP) service adds more protection to your payments and shields you from fraud and scams. It checks that all details match before your bank sends a payment. When setting up a payment to someone for the first time, you will see a pop up message showing the results of the confirmation of payee check. At the moment, some banks’ systems may not show a match when you enter our account details. Please make sure that you enter the correct account details, as shown above.

Why do I need a direct debit mandate for my offset saver account?

This is so we can collect single or regular deposits from your nominated bank account at your request. We collect the money rather than your bank sending us the money.

How do I change my bank details?

To change your bank details, call us on 0345 845 8555 and we will attempt to verify your new details over the telephone.

We can only set up bank details for a personal account you are named on. We do not accept payments from business or third party accounts.

How do I change my offsetting option from reduced payment to reduced term?

Download our Mortgage Details Amendment Form (PDF, 634KB), complete the section 'Change of offset benefit' and return it to us. Alternatively, you can call us on 0345 845 8555, option two.

How do I change my offsetting option from reduced term to reduced monthly payment?

Download our Mortgage Details Amendment Form (PDF, 634KB), complete the section 'Change of offset benefit' and return it to us. Alternatively, you can call us on 0345 845 8555 (option two).

With reduced monthly payment as your offset benefit it will be effective from the 1st of the following month after you’ve made your request. The first reduced payment will be calculated on the 1st of the next month, and the reduced monthly payment will be reflected in the mortgage payment on the 1st of the next again month.

On an ongoing basis, your offset benefit will be calculated for each full calendar month and your mortgage payment will then be adjusted accordingly at the end of the following month. We’ll write to you each month to advise you how much your next mortgage payment will be.

Example

1. On 25 May, we receive your instruction to change your offset benefit from reduced term to reduced monthly payment
2. On 1 June, reduced monthly payment becomes effective as your offset benefit
3. On 1 July, the first reduced monthly payment will be calculated for the next mortgage payment.
4. On 1 August, your monthly mortgage payment will be reduced, based on your offset savings balance from 1 June to 30 June.
5. On 1 September, your monthly mortgage payment will be reduced, based on your offset savings balance from 1 July to 31 July.

If I add money to my offset saver account and I have chosen reduced monthly payment as my benefit, when will I receive the reduction in my monthly payment?

If you’ve chosen this option, the offset benefit will be calculated at the end of the month the money was credited to your Offset Saver Account, and deducted from the following payment. For example, if you transferred money to your Offset Saver Account on 15 April, the offset benefit will be calculated at the end of April, you’ll be advised of your updated mortgage payment during May and the mortgage payment on 1 June will be reduced accordingly.

Is there a sort code and account number for my mortgage account?

You don’t have an individual sort code and account number for your mortgage with Scottish Widows Bank, although we do have a central holding account you can use to pay your mortgage from your nominated account, using the following details:

Sort code 30-18-05
Account number 00030372
Reference <Mortgage Acc no/Mortgage Reserve Acc no/Offset Saver Acc no>. Account numbers can be found on your Annual Statement, on Internet Banking or by calling us.

Keeping your account safe

We’ve introduced a new way to keep your payments even safer. The Confirmation of Payee (COP) service adds more protection to your payments and shields you from fraud and scams. It checks that all details match before your bank sends a payment. When setting up a payment to someone for the first time, you will see a pop up message showing the results of the confirmation of payee check. At the moment, some banks’ systems may not show a match when you enter our account details. Please make sure that you enter the correct account details, as shown above.

You can also send payments in the following ways:

Online using Internet Banking from an existing Scottish Widows Bank savings account or your nominated external account.

Using Telephone Banking from an existing Scottish Widows Bank savings account or your nominated external account.

Send a cheque (personal bank / building society account) payable to ‘Scottish Widows Bank’ <applicant’s name> to: Scottish Widows Bank. PO Box 883, Leeds, LS1 9TY. Please write your account number on the back of your cheque.

How do I change my name on my mortgage account?

Please send this request in writing with your old and new signatures, enclosing an original or a certified* copy of your marriage certificate/decree absolute or change of name deed.

Our address is:

Scottish Widows Bank
Mortgage Customer Services
PO Box 883
Leeds
LS1 9TY

*An Independent Financial Adviser, Solicitor (please enclose headed paper or a business card), a high street bank or post office (this must be stamped) can certify.

How do I change my address?

Please write to us confirming your new address details and advise the reason for the change of address. If this is a joint mortgage, we will need signatures of both borrowers.

Our address is:

Scottish Widows Bank
Mortgage Customer Services
PO Box 883
Leeds
LS1 9TY

How do I open an Offset Saver Account?

You should read ‘A Guide to Offsetting’ (PDF, 644KB) for more information about offset. If you’d then like to apply, please download an Offset Saver Account application form (PDF, 135KB) and complete and return this to us. Please note if you have a 5 year fixed rate mortgage you are not eligible for an Offset Saver Account.

I'd like to make some improvements to my home - can I borrow additional money from Scottish Widows Bank for this?

Once you’ve had your mortgage with us for six months or more, you may be able to borrow more money. Visit the additional borrowing page to find out more.

Can I take a payment holiday?

No, we don't offer payment holidays. If you're facing financial difficulty, and think you may have trouble paying your mortgage, visit our Facing financial difficulty pages to see how we can help you.

Why is my direct debit mandate not working/not showing?

There could be a couple of reasons for this.

If you haven’t used your Direct Debit facility to collect money from your nominated bank account in the last 13 months, it is automatically cancelled by your bank. To reinstate this, please download a Direct Debit Mandate (PDF, 66KB), complete, and send to us; or call us on 0345 845 8555, option 2.

If you have a joint mortgage and the nominated bank account is held in the joint applicant’s name, this will not show on your Internet Banking.

If this is a new account the Direct Debit Mandate may not be live. It takes three working days to become active.

Can I offset against more than one portion of my mortgage if I have different rates?

No, you can only choose one portion of your mortgage that you would like to offset against. If your mortgage is made up of more than one product, you’ll need to tell us which product you would like to offset against.

Why is my offset benefit lower this month compared to last month?

This could be because:

• Offset benefit, like interest, is calculated daily and therefore varies according to the number of days in the month.
• There was a lower balance in the Offset Saver Account compared to the previous month.
• The interest rate of your mortgage may have changed to a lower rate.

Can I pay my monthly mortgage payments from more than one account (i.e Two separate direct debits)?

No. You can only have one Direct Debit set up at a time to collect your monthly mortgage payments.

Can I send requests by email?

We’re able to accept general enquiries by email and post.

How do I register for internet banking/change my optional third security codeword?

Please download the Internet Banking/Telephone Banking registration form (PDF, 70KB) and return it to us.

How do I add someone to my mortgage/remove someone from my mortgage?

If you want to add or remove someone from your mortgage you need to receive appropriate advice.

Our mortgages are serviced by independent mortgage advisers. If you already have a mortgage adviser you should contact them.

Some mortgage advisers charge a fee for their service.

When will I receive my mortgage statement?

Annual mortgage statements are sent every April.

How do I close my mortgage account?

Please contact Mortgage Customer Services on 0345 845 8555 (option two) for a final redemption figure which can be provided verbally or in writing. If you have a solicitor acting for you, they will usually request this information on your behalf.

Can I request my deeds?

Yes, you may request to have your deeds sent to you by calling our Mortgage customer service team on 0345 845 8555 (option two).

How do I request a tax certificate?

Call us on 0345 845 8555 (option two).

I'm nearly at the end of my current Scottish Widows Bank mortgage deal/ on the standard variable rate. Do you have any exclusive mortgage offers for existing customers?

We have a range of exclusive mortgage rates available only to existing customers.

• View our Professional and Flexible Mortgage Interest Rates
• Find out how to apply.

What should I do if I have a complaint?

If you have a complaint please visit our complaints page to find out how to inform us about it. We’ll then try to provide a solution as quickly as possible.

Useful telephone numbers:

Our lines are open 8am to 6pm Monday to Friday.

Mortgage Customer Services - 0345 845 8555 (option two)
Mortgage Redemptions - 0345 845 8555 (option two)
Existing customers looking for new products/additional borrowing - 0345 845 0440
Deposits - 0345 845 0829
New application submitted - 0345 845 0110

We’ve put together the answers to some of the most commonly asked questions about the Bank of England base rate. If you have a question that we haven’t answered here, please call us on 0345 845 8555 (option two). Our lines are open 8am to 6pm Monday to Friday. Alternatively, you can also send an email to our customer services team if you have a general enquiry.

What is the Bank of England base rate?

It’s the official Bank Rate set by the Bank of England and it affects the interest rates offered by Banks, Building Societies and other financial institutions. By changing the official Bank Rate, the Bank of England seeks to influence overall borrowing in the economy.

I'm on a tracker rate, what does this mean for me?

Your mortgage rate will move in line with the Bank of England base rate.

Our tracker rates are linked to the Bank of England Base rate administered by the Bank of England, this rate can go up or down which will impact the cost of your mortgage payments.

Increase in rate

If the Bank of England base rate increases by 0.5%, your mortgage interest rate will increase by 0.5%. So, for example if the Bank of England base rate increases to 1.00% and your current rate is 1.99% above base rate, your new rate will be 2.99%.

Decrease in rate

If the Bank of England base rate decreases by 0.5%, your mortgage interest rate will decrease by 0.5%. So, for example if the Bank of England base rate decreases to 0.25% and your current rate is 1.99% above base rate, your new rate will be 2.24%.

When will I be notified of the new monthly payment?

You’ll be notified by post of your new monthly payment at least 15 days before your new payment is due to be collected.

If I'm on a tracker rate, when will my monthly payment change if the Bank of England base rate changes?

As you pay your mortgage one month in arrears your monthly payment will change the following month after the Bank of England base rate changes on your account. For example, if the Bank of England base rate changes in May, the rate would take effect from 1 June and your new monthly payment would be debited from your account 1 July.

How do you re-calculate my monthly payments?

When re-calculating your monthly payments, we look at each sub-account separately and change the monthly payment only on sub-accounts affected by the change. This may mean that only some and not all sub-accounts get a monthly payment re-calculation.

When we re-calculate your monthly payment we will not make an assumption that any payments we have not yet received will be made. This means, for repayment mortgages, we re-calculate your payment based on the amount you owe on the day before we do the re-calculation, together with the projected interest charges to the end of that month. If you have not paid your monthly payment before we perform the re-calculation, the balance on which we’ll re-calculate your monthly payment will not take into account the payment that you are expected to make before the month end.

I can't afford the increase in payments, what can I do?

If you are worried about keeping up with your mortgage payments, please refer to our Facing financial difficulty section.

You may also want to seek advice on what to do from a free independent advice agency such as the Citizens Advice Bureau and/or MoneyHelper.

What happens if I've made an arrangement with you to pay a different amount?

If you have a fixed overpayment in place this will continue to be collected over and above the new payment.

If your mortgage payment was set at a specific amount this amount will continue to be collected as long as it still covers your full contractual monthly payment. However, if the new contractual monthly payment is higher then we will collect your payment at the higher level. For example, your monthly payment was set at £500 and your contractual monthly payment was £350 (you have been overpaying £150 each month).

If the Bank of England base rate change causes your new contractual monthly payment to increase to £550 this is the amount we will collect and you will no longer be overpaying.

Can I change my existing interest rate(s)?

You may be able to change your interest rate(s), however Early Repayment Charges could apply. Refer to your offer for more details.

For more information visit our Switch to a new rate pages.

I'm on a fixed rate, what does this mean for me?

Your rate will not be affected by a change to the Bank of England base rate. The rate is fixed for the duration of the fixed rate period. Refer to your Offer for more details.

I’m on the standard variable rate, what does this mean for me?

The Standard Variable Rate is a rate managed by Scottish Widows Bank. If the Bank of England base rate moves, the Standard Variable Rate will be reviewed but may not change.

If the Standard Variable Rate does change this will take effect on your account from the first of the following month after the announcement. You will be notified in writing the month prior to your new payment being collected.

I have a mortgage reserve account, what does this mean for me?

The Mortgage Reserve Account is an account on the Standard Variable Rate.

The Standard Variable Rate is a rate managed by the Board of Directors here at Scottish Widows Bank. If the Bank of England base rate moves, the Standard Variable Rate will be reviewed but may not change.

If the Standard Variable Rate does change this will take effect on your account from the first of the following month after the announcement. You will be notified in writing the month prior to your new payment being collected.

Why has my monthly payment changed by more than I expected?

This could be for various reasons, which may include one or more of the following:

• You have taken a ‘payment holiday’ which has resulted in an increase in your mortgage balance.
• You may have missed payments or underpaid since we last calculated your monthly payments.
• Costs or charges have been added to your account, such as unpaid ground rent/service charges.

Why has my monthly payment changed by less than I expected?

This could be for various reasons, which may include one or more of the following:

• You have made overpayments which have reduced your mortgage balance.
• An additional payment or refund has been made to your account.

Will you change the mortgage rates again?

Mortgages can last for a long time and so it’s likely that interest rates will continue to change from time to time. It’s the responsibility of the Bank of England to instruct changes on the base rate. Scottish Widows Bank will change all tracker rates if the Bank of England changes the base rate and will review the Standard Variable Rate at this point.

How will this interest rate change affect my offset account/benefit?

The benefit amount you receive will change if the offset is currently linked to a mortgage which is on a tracker rate.

If you’re using offset to reduce your payments, this will take three months to come into effect. For example, if your interest rate changes on 1 February your updated offset benefit will be on 1 May.

If you’re using offset to reduce term, this will take 1 month for the change in benefit to take effect.

This product is no longer available.

Existing Mortgage Reserve Account balances are currently charged at our Standard Variable Rate.

For account information, please call our customer service team on 0345 845 0829. Our lines are open 8am to 6pm Monday to Friday.

Our contact details

For additional account information about your Retirement Home Plan mortgage, please contact our Mortgage Customer Services team on 0345 845 8555. Our lines are open 8am to 6pm Monday to Friday. You can also write to us at:

Scottish Widows Bank
PO Box 883
Leeds
LS1 9TY

Frequently asked questions I want to move home, can I take my Retirement Home Plan mortgage with me?

The product is portable, this means that you may be able to move house and transfer the loan to a new property, subject to assessment and our lending criteria. Early Repayment Charges may apply.

My current Retirement Home Plan fixed rate is coming / has come to an end. Do you have any exclusive offers for existing customers that I would be able to switch to?

We offer Two and Five year Fixed Rate Product Transfer options for existing Retirement Home Plan customers, which may be suitable for your needs. You can find out more about these offers by speaking to our Mortgage Advice Team.

How do I find out what my current interest rate is?

You can call our Mortgage Customer Services team on 0345 845 8555 to find out details of your current interest rate(s).

If you have a variable interest rate, this can change over the life of the mortgage, meaning your monthly mortgage payments could go up or down.

With a fixed rate, the interest rate is fixed for the duration of the chosen fixed rate term, meaning your monthly mortgage payments will not change during this period.

How do I find out what my current outstanding balance is?

You can call our Mortgage Customer Services team on 0345 845 8555 to find out details of your current outstanding balance.

How do I change my bank details?

To change your bank details, call us on 0345 845 8555 and we will attempt to verify your new details over the telephone.

We can only set up bank details for a personal account you are named on. We do not accept payments from business or third party accounts.

Can I change the date of my monthly Direct Debit payment?

No, we only collect Direct Debit payments on the first working day of each month.

If you’re having trouble paying your mortgage there are different options available that may ease your situation and help to resolve the issue

When will I receive my annual statement?

Annual mortgage statements are sent every April.

How do I repay my Retirement Home Plan mortgage?

The loan will normally be paid off through the eventual sale of the property either on death (of last surviving borrower for joint loans), or upon moving into permanent long-term care.

Repaying early is also an option, but you should remember that Early Repayment Charges may apply.

To enquire about redeeming your mortgage, contact our Mortgage Customer Services team on 0345 845 8555 (option two) for a final redemption figure. This can be provided verbally or in writing. If you have a solicitor acting for you, they will usually request this information on your behalf.

How do I notify you of a death?

We understand that bereavement is a very difficult time. We try to make the process of informing Scottish Widows Bank as simple as possible. You can call us on 0345 845 8555 with details or write to us at:

Scottish Widows Bank
PO Box 883
Leeds
LS1 9TY

Can I borrow more money from my Retirement Home Plan mortgage?

You may be able to apply for a Further Advance, subject to our lending criteria.

You can enquire about applying for a Further Advance by speaking to our Mortgage Advice Team by calling 0345 845 8555

What should I do if I have a complaint?

If you have a complaint please visit our complaints page to find out how to inform us about it. We’ll then try to provide a solution as quickly as possible.

Information for existing lifetime mortgage customers

This product is no longer available for new business.

For additional account information please contact our customer service team on 0345 845 0829. Our lines are open 8am to 6pm Monday to Friday.