At Bank of Scotland, we offer both Commercial Mortgages and Residential Buy-to-let Mortgages.

Our Commercial Mortgage is a straightforward way to help spread the cost if you’re moving to a bigger office, or expanding to multiple locations.

Our Residential Buy-to-let Mortgage is suitable for business clients who derive their main source of income from the sector, and own property let for residential occupation, multiple occupation and student lets. 

Key features and benefits

  • Apply for a minimum of £25,001 and choose a term loan from 3 to 25 years.
  • Borrow up to 70% of the property value.
  • Choose between fixed or variable interest rates to suit your business needs. 
  • Capital repayment holidays may be available.
  • If you wish to borrow on other terms, we may still be able to help you. 

Keep in mind

  • Security will be required.
  • Your business will be charged an arrangement fee, and may be charged security and valuation fees.
  • For interest only mortgages, the actual amount borrowed doesn’t reduce during the life of the mortgage. You’ll need to repay the full capital amount at the end of the mortgage term.
  • If you repay part, or all, of your fixed rate mortgage before the end of the agreed term then you may need to pay an early repayment fee. This could be substantial. This fee does not apply to bank rate linked loans.
  • We will require a first legal charge over the property as security. This means if you’re re-mortgaging an existing property, you must repay any loan secured on it before completion. 

Eligibility

To be eligible, you must:

  • Require the mortgage for business use.
  • Be a sole trader, partner or director with authority to borrow on behalf of your business.
  • Be aged 18 or over.

Before you get in touch

Make sure you know:

  • How much you would like to borrow.
  • Why you need the new premises.
  • What time period you would like to make the repayments over. 

How to enquire

New customers

call 0345 300 1319

 

Existing customers

call 0345 300 0268

 

We’re available from 9am to 5pm, Monday to Friday, except public holidays. 

Lending appeals

The right type of funding can play a vital role in helping your business reach its potential. If your lending application is declined, we will work with the British Bankers’ Association to pursue any raised appeals. 

Making sure you get a fair deal

We want you to find a product that's right for your circumstances, which is why we adhere to the Standards of Lending Practice, which are monitored and enforced by the Lending Standards Board.

To find out more you can read the statement of responsibilities, which details what's expected of us, the lender and you the borrower.

ANY PROPERTY GIVEN AS SECURITY, WHICH MAY INCLUDE YOUR HOME, MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR OTHER DEBTS SECURED ON IT.

All lending is subject to a satisfactory credit assessment and we will need your permission to carry out a credit check on you and your business. 

You should not apply for an amount that you cannot comfortably afford to repay now and in the future to avoid the possibility of legal action. 

All lending is subject to status. Security may be required.

There is always a possibility that interest rates may go down leaving a fixed rate loan at a higher level compared to a variable rate loan. However, if interest rates rise, a fixed rate loan will remain at the same rate.