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Scottish Building Society – Flex 3-Year 2.3% Discount Mortgage

Scottish Building Society – Flex 3-Year 2.3% Discount Mortgage

Type: Flexible discounted-rate mortgage

Discounted term: Three years

Discount: 2.3%

Payable rate: 2.99%

Minimum loan: No minimum for purchase, £30,000 for remortgages

Maximum loan: Up to 60% of valuation subject to a maximum of £500,000

Income multiples: Based on affordability

Conditions: Capital repayments of up to 10% a year without penalty in the fixed-rate period subject to a £250 a month minimum, basic valuation fee refunded for remortgages, free legal fees for remortgages if the society’s solicitor is used, otherwise £150  towards legal costs, available direct and through intermediaries that are members of the Thistle Club, available only for property purchase in Scotland, Northumberland, Cumbria, County Durham or North Yorkshire

Flexible features: Overpayments, underpayments, payment holidays

Arrangement fee: £499

Redemption fee; 3% of the amount repaid in the first three years

Introducer’s fee: 0.4% of the original loan subject to a £1,500 maximum



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