Scottish BS unveils 5-year fix product

Jessica Nangle

September 19, 2019

The Scottish Building Society has launched a 5-year fixed rate mortgage.

The society is offering a rate of 2.59% up to 80% LTV.

The products are available for loans on properties across Scotland and carry a £995 fee.

Paul Alexander, head of business development and sales strategy at the Scottish Building Society, said: ‘Demand for fixed rates with longer terms is growing and we are pleased to be able to offer this product to homebuyers across Scotland.

“Our individual underwriting and flexible approach means we may be able to lend when mainstream lenders cannot and this new product allows us to offer a 5-year fixed rate option to a wider market.

“Our team of business development managers are ready to meet with intermediaries to discuss our full portfolio of products which includes self-build, holiday-let and RIO.”

Loans up to £500,000 are available up to 70% or £350,000 up to 80%.

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