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There are over 100 mortgage lenders in the UK including Scottish Building Society. Mortgage Lender .co.uk will help you make the right choice.

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Scottish Building Society

This building society was first founded in 1848 as the Edinburgh Property Investment Company and became the Scottish Building Society in 1929. Total assets increased to over £327 million for the financial year to January 31st 2010 and liquid assets were reported to be £84 million, showing a continued increase upon previous years.

The focus remains upon helping Scottish residents to save and be able to buy their own home. There are 5 branches and a network of local agencies serving the whole of Scotland. Mortgage products are usually only possible for Scottish properties although existing customers can usually move their product to other parts of the UK and new customers who live in the far North of England may be able to apply.

Mortgage products include

  • Fixed rates
  • Discount rates
  • Trackers
  • Standard variable rate
  • Buy to Let
  • Guest House

The Society will cover basic legal costs in most cases as well as provide a free basic valuation. Interest is usually charged on a monthly basis and underpayments are possible up to the value of any previous overpayments. You can also arrange to borrow back previous overpayments at no charge.

Most products will incur a penalty charge if you repay in whole or part the outstanding mortgage balance although overpayments of up to 10% each year are usually allowed.

Scottish Building Society Mortgage Products

Fixed rate mortgages: Available for a 3 year term the fixed rate allows you to plan your finances and be sure that your monthly repayments will not be affected by any changes in the Bank of England Base Rate. At the end of the three years you will transfer to the Societies Standard Variable Rate.

Discount rates: You can borrow up to 80% of the property value and you will benefit from a discounted interest rate compared to the Standard Variable Rate. The minimum loan is £30,000 and the maximum is £250,000.

Buy to Let Mortgage: This product will have a fixed percentage added to the Standard Variable Rate but will be discounted for the first two years. Maximum LTV is 70% for a loan up to £500,000. You are only permitted to have three investment properties at any one time.

If you are interested in a mortgage quotation including those offered by the Scottish Building Society please complete our quick enquiry form.


Scottish Building Society Mortgage Rates

Mortgage Type Initial Rate Subsequent Rate APR Max LTV Fees & Charges Enquire Now
Fixed Rate (3yrs) 5.29% Fixed 5.29% Variable 5.5% 75% £799 Arrangement Fee
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Discount Rate (3yrs) Standard Variable Rate - 1.25% Variable 5.29% Variable 5.2% 80% £699 Arrangement Fee
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Buy to Let with 2yr discount Standard Variable Rate + 0.75% Variable STV + 1.5% Variable 7.0% 70%  
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Speak to a professional about a Scottish Building Society Mortgage