[Sir Walter] Scott was now  in receipt of £1,300 a year as clerk of session, and when the lease of Ashestiel ran out in May 1811, he felt justified in purchasing, for £4,000, a farm on the banks of the Tweed above Gala-foot. This farm, then known as Clarty Hole, became Abbotsford, so called because these lands had belonged of old to the great Abbey of Melrose; and in his own mind Scott became henceforth the Laird of Abbotsford.
During  the existing house of Abbotsford had been building, and Scott had added to his estate the lands of Toftfield, at a price of £10,000. He was then thought to be consolidating a large fortune, for the annual profits of his novels alone had, for several years, been not less than the cost of Toftfield.
The house of Abbotsford was not completed and finally rid of carpenters and upholsterers until Christmas 1824; but the first time I saw it was in 1818, and from that time onwards Scott’s hospitality was extended freely, not only to the proprietors and tenants of the surrounding district but to a never-ending succession of visitors who came to Abbotsford as pilgrims. In the seven or eight brilliant seasons when his prosperity was at its height, he entertained under his roof as many persons of distinction in rank, in politics, in art, in literature, and in science as the most princely nobleman of his age ever did in the like space of time.
Scott’s diary from November 1825 shows clear forebodings of the collapse of the [publishing] houses of Constable and Ballantyne. In December Scott borrowed £10,000 on the lands of Abbotsford, and advanced that sum to the struggling houses; on January 16, 1826, their ruin, and Scott’s with them, was complete.
On May 15 Lady Scott died, after a short illness, at Abbotsford. “I think,” writes Scott in his diary, “my heart will break.”
An expedition to Paris in October, to gather materials for his “Life of Napoleon,” was a seasonable relief. The “Life of Buonaparte” was published in June 1827, and secured high praise from many…… It realised £18,000 for the creditors, and, had health been spared him, Scott must soon have freed himself from all encumberances.
‘Life of Sir Walter Scott,’ John Gibson Lockhart, published 1837/’38 in seven volumes.
Profits from the ‘Life’ were donated by Lockhart, his son-in-law, to the creditors.
Abbotsford (“just a short train ride from Edinburgh”) is now in the care of a charitable trust and still attracts thousands of “pilgrims” every year.