Legal Information

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We take into account your personal and financial circumstances and the value or price of the property. These and the products you choose will affect how much we lend you.

Intelligent Finance is a division of Bank of Scotland plc. Registered in Scotland number SC327000. Registered office: The Mound, Edinburgh, EH1 1YZ, United Kingdom. Bank of Scotland is part of Lloyds Banking Group. Bank of Scotland plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority


Individual Savings Accounts (ISAs)

There are four types of ISA: a cash ISA, a stocks and shares ISA, an innovative finance ISA and a lifetime ISA. Intelligent Finance offers a cash ISA. ISAs can also be flexible. Please note that your Intelligent Finance cash ISA is not flexible. Each eligible client has a total ISA allowance of £20,000 in the current tax year. If you are the spouse or civil partner of a deceased ISA holder (with Intelligent Finance or another ISA provider) you may also qualify for an additional permitted subscription allowance. You have to be 18 or over to use an additional permitted subscription allowance.

If you subscribe to a Intelligent Finance cash ISA, you cannot subscribe to any other cash ISA in the same tax year (unless you are taking advantage of the additional permitted subscription allowance following the death of your spouse or civil partner), but you can subscribe to a stocks and shares ISA, an innovative finance ISA or a lifetime ISA.

You can choose to use your ISA allowance in any of these or any combination of the four as long as you don't exceed the annual allowance. Depending on your age and circumstances, you may be able to save in a lifetime ISA. Your ISA can be with the same or different ISA providers. If you subscribe to ISAs held with different ISA managers you are responsible for ensuring that you do not subscribe to a disallowed combination of ISAs, and that you do not exceed the overall annual ISA investment allowance of £20,000.

You can transfer some or all of your previous tax years’ ISA, between cash, stocks and shares, innovative financial and lifetime ISAs without affecting your annual ISA allowance. You can also transfer money which has been saved in the current tax year in an ISA, but if you do this you must transfer the whole amount saved during the current tax year. Once that money is transferred it is treated as if it had been invested directly into that ISA, which means that you can use any remaining balance of your annual ISA allowance in the tax year.

Accident, Sickness & Unemployment (ASU) Insurance

Intelligent Finance, a division of Bank of Scotland plc, The Mound, Edinburgh EH1 1YZ, is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority.

Intelligent Finance Accident, Sickness and Unemployment Insurance is underwritten by Pinnacle Insurance plc., whose registered office is at Pinnacle House, A1 Barnet Way, Borehamwood, Hertfordshire, WD6 2XX.

Pinnacle Insurance plc proposes to choose English law as the law which applies to the policy.

You can, at any time, ask the insurers for detailed information about compensation arrangements. These compensation arrangements apply in the event that an insurer goes into liquidation and cannot pay its debts.

If you have any complaint regarding your ASU cover, please contact Pinnacle Insurance plc: Pinnacle House, A1 Barnet Way, Borehamwood, Hertfordshire, WD6 2XX.

Should the matter still not be resolved to your satisfaction, you will have the right to refer your complaint to: Financial Ombudsman Service (FOS), Exchange Tower, London E14 9SR However, please note that there are some instances when the FOS cannot consider complaints.

The above does not affect your legal rights.


We may monitor or record telephone calls.

You can only open and operate an Intelligent Finance plan or part of it if you live in the UK. These details should not be regarded as an offer to provide credit or investment products in any jurisdiction outside the UK.

You must be 16 or over. Credit facilities are only available to people aged 18 or over. We take into account your personal and financial circumstances.

A credit reference check will be carried out in respect of each applicant and, whether or not credit is granted, the agency will retain a record of each search for its own use.

For more details and written quotations, telephone 0345 609 4343.

If we agree to let you have an overdraft, we will decide your overdraft limit and tell you what it is. Overdrafts are repayable on demand.

We give you the choice of maximising the interest you receive or minimising the interest you pay us. If you choose to pay borrowing rates of interest on your outstanding mortgage balance, we will pay you equivalent interest rates on corresponding amounts in your current account and savings. If you choose to pay no interest on all or part of your outstanding mortgage balance, we will not pay interest on a corresponding part of your current account or savings.

The way we link jars and how we work out interest is explained in the Intelligent Finance conditions.

You should consider the income tax position when deciding which products to have in your Intelligent Finance plan, whether you wish to be paid interest on your savings each month or once a year and which option you want us to use for the balance netting calculation.

AER stands for Annual Equivalent Rate and illustrates what the interest would be if interest was paid and compounded each year. Gross rate means that we will not deduct tax automatically from your interest. You are responsible for paying any tax due to HM Revenue and Customs.

Monthly savings interest rates are available at a slightly lower rate.

Tax-free is the contractual rate of interest payable where interest is exempt from income tax.

Important information about compensation arrangements

We are covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if a bank is unable to meet its financial obligations. Most depositors - including most individuals and small businesses - are covered by the scheme.

In respect of deposits, an eligible depositor is entitled to claim up to £85,000. For joint accounts each account holder is treated as having a claim in respect of their share so, for a joint account held by two eligible depositors, the maximum amount that could be claimed would be £85,000 each (making a total of £170,000). The £85,000 limit relates to the combined amount in all the eligible depositor's accounts with the bank including their share of any joint account, and not to each separate account.

For further information about the compensation provided by FSCS (including the amounts covered and eligibility to claim) please call us on 0345 609 4343, refer to the FSCS website or call 020 7741 4100 or 0800 678 1100. Please note only compensation related queries should be directed to the FSCS.

Deposits in Intelligent Finance or IF branded accounts are held with Bank of Scotland plc. Accounts with Bank of Scotland plc include accounts with its divisions and trading names: Halifax, Birmingham Midshires (BM Savings), Bank of Scotland, Bank of Scotland Private Banking, Bank of Wales, and St. James's Place Bank. Some savings accounts under the AA Savings and Saga brand names are also deposits with Bank of Scotland plc. An eligible depositor's £85,000 limit relates to the combined amount in accounts under all of these names.

If you are unsure whether your account is held with Bank of Scotland plc please check your account literature.

Our products and offers are subject to conditions. We can withdraw them without notice.

We may change charges and make new or different ones (or change the way in which you have to pay them). We may also change interest rates.

We (and any other members of our group of companies) will keep any commission we (or they) receive in connection with any insurance we (or they) arrange.

Credit facilities provided by Intelligent Finance, a division of Bank of Scotland plc.

Information correct as at 25th March 2019.



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