Guest House

For the first 3 years of your mortgage your rate will be...

0.15% below the Society's Standard Variable Rate.

Currently this means your initial rate will be

5.14%

For the remainder of your mortgage term your rate will be...

The Society's Standard Variable Rate.

Currently this means your rate will be

5.29%

 

The interest rate will be variable throughout your mortgage term.

The overall cost for comparison is

5.5% APR

 

 

The actual rate available will depend upon your circumstances. Ask for a personalised illustration.

Early Repayment Charge

  • If you repay the loan in full during the first 3 years of the mortgage an early repayment charge, equivalent to 3% of the loan amount, will apply.
  • If you overpay by more than 10% of the loan amount in any 12 month rolling period during the first 3 years of the mortgage an early repayment charge, equivalent to 3% of the total amount overpaid, will apply.

Arrangement Fee

  • You are required to pay an arrangement fee of £699, which can be added to the loan.

Additional Features

  • For remortgages: your basic legal fees will be paid by the Society, where our nominated solicitor is used, and the Society will meet the cost of a basic valuation. (See Notes 1 & 2 below)
  • Interest is charged on a monthly basis.
  • Overpayments of up to 10% of the loan amount in any rolling 12 month period can be made without charge
  • Previous overpayments can be borrowed back as required without charge.
  • Underpayments & Payment Holidays are permitted, subject to sufficient credit.

Notes

  1. Free Basic Legal Fees: The solicitor we choose will act solely for the Society in the transfer of the mortgage and any additional legal services or advice you may require will be at your own expense. If you wish to use your own solicitor instead (or if the property is outside Scotland) the Society will contribute £150 towards your legal costs.
  2. Free Basic Valuation: The Society will meet the cost of a basic valuation report, in accordance with the Society's own scale of fees. Any additional cost in excess of the scale fee will be at your own expense.
  3. This product is only available in respect of properties used for owner-occupied residential use.
  4. The maximum loan available is 75% of purchase price or valuation (whichever is lower) up to £350,000.
  5. For remortgages the minimum loan is £30,000.
  6. The maximum term is 35 years.
  7. All mortgages are subject to satisfactory status and conditions and borrowers must be aged 18 or over.
  8. The following information is required in support of your application:
    Up to 3 years' trading accounts, if existing business.
    Cashflow forecast and Business Plan, if start-up business.
    Details of previous business experience.
    Details of other continuing employment and income.
  9. Your property will be used as security for the loan.
  10. This product is subject to availability and may be withdrawn at any time without notice.

Your home may be repossessed if you do not keep up repayments on your mortgage.

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