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Scottish Building Society – Welcome Mortgage Standard First-Time Buyer

Scottish Building Society – Welcome Mortgage Standard First-Time Buyer

Type: First-time buyer Standard Variable Rate mortgage

SVR/Pay rate: 5.29%

Term: Life of the loan

Minimum loan: £50,000

Maximum loan: Up to 95% of valuation subject to a maximum of £250,000

Income multiples: Based on affordability

Flexible features: Overpayments, underpayments, payment holidays, lump sum withdrawals

Conditions: Capital repayments of up to 10% a year allowed without penalty, at least one parent to act as a personal guarantor, available only for properties in Scotland

Arrangement fee: £799

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

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

Contact: www.e-sbsm.co.uk

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