Mortgage holders with smaller amounts left on their loan may not receive the full competitive benefit offered by Bank of Scotland's entrance into the Irish market. The Scottish Bank announced a variable rate mortgage of 4.1 APR two weeks ago. A Family Money reader reports that he called the bank regarding a transfer of his mortgage only to discover it does not give loans of less than £48,000 sterling (€72,617).

The bank confirmed that the minimum loan is £48,000 sterling for a £60,000 sterling valuation. However, "remortgage customers will have the opportunity to realise up to £50,000 sterling of capital tied up in their property", said a spokeswoman. All borrowers can opt to add legal fees to the overall loan.