Moving home made easy with our residential mortgage

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

5 great reasons to choose a residential mortgage in Scotland from Scottish Building Society

A wide range of mortgages
Competitive interest rates
Local in-branch mortgage specialists
Quick lending decisions
An experienced mortgage provider, with a name you can trust

Key features of residential mortgages for people Buying or Moving Home:

Loans up to £500,000
Applicants must be at least 18 years old
Minimum mortgage term is 5 years and maximum term is 40 years
Guarantor Mortgages are available

Suitable for

Purchasers of residential property throughout Scotland or looking for help to get a second residential mortgage.


Residential 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 £400,000 you can borrow up to 80% of the property valuation or purchase price (whichever is lower).

For loans up to £500,000 you can borrow up to 70% of the property valuation or purchase price (whichever is lower).

Maximum loan size is £500,000.


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.


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 the Society will cover the cost of a Higher Lending Charge. All applications must fit our Lending Policy and also meet specific requirements. One of our Mortgage Advisers or your mortgage broker can give you full details of what these are.

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.

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.

*Please note, we only lend on properties in Scotland*



How much can I borrow?

A mortgage is a big financial commitment. As a responsible lender, we think carefully about the amount you can borrow and the type of mortgage that will work best for you.

We will allocate a qualified mortgage adviser to take you through the whole process. They will be able to advise – through information you provide at a face-to-face or telephone interview – which product best suits your requirements.

Your income and outgoings are important in the decision-making process, and will help us determine how much you can borrow. That’s why we’ll ask you  to provide payslips and bank statements to confirm your income. You’ll also need to think about your other financial commitments, as well as the impact any future rise in interest rates would have on your finances.

We will ask for your consent to research your personal financial data to help us assess your mortgage application so we can complete it as efficiently as possible.

What do I need to bring with me when I apply for my mortgage?

You’ll need to bring documentation which allows us to confirm your identity. This can include a passport, a driving license, recent payslips and bank statements. We’ll also need information about the property you want to buy, including valuation details or Home Report, and how much your deposit will be.

What happens after I’ve applied for a mortgage?

The next step is for us to make you a mortgage offer. Before we can do this, we’ll need a valuation of the property you want to buy. Most homes for sale require the seller to produce a Home Report, which is given to prospective buyers. This contains a survey report featuring information on the condition and valuation of the property. Where there is no Home Report, we will instruct an approved valuer to carry out a Lender’s Valuation. We’ll need to charge for this.

Conclusion of Missives and settlement is the final stage. This means that the buyer and seller are both committed to the sale. Your solicitor will keep in touch with you throughout the whole process. When the solicitor has paid the agreed price and has received the required legal documents, you can move in!

Anything else I need to think about?

You will be required to take out Building Insurance.

New Saver Enquiries

0345 600 0585

New Mortgage Enquiries

0345 600 4085

Existing Member Enquiries

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

Find your local office

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