The product is designed to ease the burden for buyers taking their first steps on the property ladder as the first-time buyer stamp duty exemption comes to an end on 24 March.
It comprises a 5.99% mortgage fixed until the end of May 2014, available between 85-90% LTV, and no product fee. On completion 0.50% of the property price will be paid to the solicitor.
This means that if a customer is buying a house for £150,000, Bank of Scotland will pay £750 towards their stamp duty bill, up to a maximum of £1,250 for those purchasing a £250,000 home.
The product is available to all first-time buyers but Bank of Scotland current account customers will also receive an additional £150 on completion.
Recent research from Bank of Scotland shows that one in four first-time buyers in Scotland have benefited from the Stamp Duty exemption that has been in place since March 2010.
In comparison, nearly all first-time buyers in Scotland (99%) have not had to pay stamp duty over the last two years.
Laurence Mann, head of mortgages, Bank of Scotland said: "Over the last two years, the stamp duty exemption has helped around a quarter of Scottish first-time buyers.
“Now that it's coming to an end, we're keen to do what we can to continue to support those buying their first home, and soften the blow of a stamp duty bill at what's already an expensive time."
