2 Year Discount Help to Buy Mortgage (Scottish lending only)

Maximum Loan to Value (LTV) 80% LTV
Initial Variable Interest Rate, currently: 2.54% (2.70% discount from our Standard Variable Rate for 2 years. The discount is subject to a minimum interest rate “floor” of 2.00%).
Followed by our Standard Variable Rate thereafter, currently: 5.24% (The Society’s Standard Variable Rate is set by its Board of Directors).
The Overall Cost for Comparison is: 5.0% APRC
Interest Calculated: Daily

Minimum – 18 years

Minimum – 2 years
Maximum – 40 years

Minimum Loan £50,000

Maximum Loan £160,000 in Scotland. (Maximum Loan amounts vary by LTV, please refer to our current criteria for details)

Available on new build properties only. Not available to customers who meet the Credit Renew criteria.

The following multiples apply:

For 1 or 2 Applicants Up to 4.49 x Total Income

For 3 or 4 Applicants Up to 3.25 x Total Income

Our decision to lend will depend on whether the loan is affordable, which we will determine from an assessment of your income and other financial commitments, alongside the impact of future interest rate increases. To get an idea of how much you may be able to afford please speak to your mortgage advisor.


We are supporting the first part of the Government’s Help to Buy scheme (Equity Loan) which launched on 1st April 2013. The scheme aims to help both first time buyers and home movers who have deposits of at least 5% to buy a new build home through offering a shared equity scheme where the Government lends customers up to 15% of the value of their property. For more details speak to your mortgage adviser or go to Help to Buy scheme website at http://www.helptobuy.gov.uk.

Application Fee There is no application fee payable for this this product
Scheme Fee £999 (can be added to the loan, subject to LTV, or paid on completion. Fees added to the loan will accrue interest. Further details are available on request).
Mortgage Exit Administration Fee £75 (paid on redemption).
Valuation Fee Paid directly to valuer by the applicant – see Valuation Fee Scale for details. A standard mortgage valuation is required on all properties.
Procuration Fee A Procuration Fee will be paid by the Society upon completion of the mortgage. Please refer to your mortgage broker for details.
Early Repayment Charge 2.70% of the redemption balance for 2 years.
Overpayments The Society will allow overpayments of up to 10% of the capital balance per annum without invoking an early repayment charge.
Portability You can keep this mortgage should you move to a new property. This mortgage is portable subject to your status meeting our criteria.
Insurance Buildings insurance is compulsory in all instances, the Society will require a copy of the customer’s policy in advance of completion.
Representative Example: The following is a representative example based on a mortgage of £214,199 payable over 25 years initially on a discounted variable rate of 2.54% for 2 years followed by our Standard Variable Rate of 5.24%. In this example you would make an initial payment of £1024.76 then 23 monthly payments of £965.30 followed by 276 monthly payments of £1259.00.

The total amount payable would be £372,309.46 made up of the loan amount plus interest of £156,456.46 and the following fees, a Scheme Fee (£999.00), a Chaps/Telegraphic Transfer fee (£25.00), a Valuation Fee (£225), Legal Fees (£330.00) and a Mortgage Exit Administration Fee (£75.00).

 The overall cost for comparison is 5.0% APRC representative.

Note: What you will pay may vary from this and will depend on your personal circumstances.