For People Buying or Moving Home

MortgageImageScottish Building Society offers residential mortgages for people buying their new home, with a selection of competitive interest rates.

For full details of all interest rate options currently available please see our interest rate information pages.

Our specialist mortgage advisers can guide you through the application process and help make everything as smooth as possible.

To discuss our products in more detail please visit your nearest branch or call us on 0345 600 4085 and speak with one of our mortgage advisers.


Key Features of Mortgages for People Buying or Moving Home:

Suitable for: Purchasers of residential property throughout Scotland. 

Mortgages are available for owner occupied residential properties. All mortgages are subject to a suitable property valuation.

For property purchases in Scotland, we can normally use the property valuation contained in the sellers' Home Report provided that it is no more than 3 months old (please speak with our mortgage advisers for further details).

Maximum Loan:

For loans up to £300,000 you can borrow up to 90% of the property valuation or purchase price (whichever is lower).

For loans up to £350,000 you can borrow up to 80% of the property valuation or purchase price (whichever is lower).

For loans over £350,000 you can borrow up to 70% of the property valuation or purchase price (whichever is lower).

Maximum loan size is £500,000.

Term: Applicants must be at least 18 years old on application and normally not more than 85 at end of mortgage term. Minimum mortgage term is 5 years and maximum term is 40 years
How much can I borrow?

All mortgage applications are based on affordability.

As a guide we will lend up to:

  • Main income x 4.5, PLUS second income x 1 OR
  • Joint income x 3.5

For loans over 80% of the property valuation or purchase price (whichever is lower) we will lend up to:

  • Main income x 4, plus second income x 1 OR
  • Joint income x 3

Any existing financial commitments will also be taken into consideration when affordability is calculated.

Guarantor Option: Guarantor Mortgages are available - please refer to the section for specialist mortgages for full information on this option.
Interest Rate Options: We have a range of competitive interest rate options which you can choose from. Please see our interest rate information pages for full details.
  • Capital and Interest
  • Interest only - available up to 75% of the property value or purchase price (whichever is lower) with a maximum loan size of £350,000. We will ask for confirmation that you have an appropriate repayment vehicle in place at the time of application as well as periodically throughout the life of your mortgage. Acceptable repayment vehicles are endowment policies; stocks and shares ISAs; pension lump sums; and second/investment properties.
Security: A first charge will be taken over the property being purchased as security for the mortgage lending.
Higher Lending Charge:

For lending above 80% of the property purchase price or valuation a Higher Lending Charge will be payable.

The charge is based on the amount being borrowed and full details of the charge can be obtained from our mortgage advisers.

Where a Higher Lending Charge is applicable this can generally be added to the mortgage if you wish providing total lending does not exceed 95%.

Flexible Features: Where Early Repayment Charges apply to any of our mortgages you may be allowed to make overpayments (normally up to 10% of the loan amount per annum) without penalty.

Buildings Insurance must be arranged prior to funds being released.

Our advisers can provide competitive quotations for buildings insurance and also life cover. You are not required to arrange these or any other insurances through Scottish Building Society.

Member Enquiries

To talk to us about an existing savings or mortgage account, contact your local office.

Contact your local office

 New Savings Enquiries

0345 600 0585

New Mortgage Enquiries

0345 600 4085

 Lines open 9-5 Mon to Fri (10-5 Wed) and Sat 9-12.
Calls may be recorded and/or monitored.