Scottish Building Society has launched a free mortgage indemnity guarantee discounted rate mortgage.
The mortgage offers a discount of 1 per cent on its current base rate of 6.75 per cent, for four years.
Loans are available up to 90 per cent of valuation subject to a maximum of £150,000.
Redemption penalties are 4 per cent of the loan in the first five years in addition to the society's standard redemption fee of two months' interest in first three years followed by one months' interest in years four and five.
Loans include free unemployment cover. While procuration fees are negotiable with the lender.