Scottish Building Society Remortgage

The Scottish Building Society remortgage provides discounted packages with flexible features, helping homeowners in Scotland to take control of their finances. Its products don’t charge arrangement fees, and by using a Society-nominated solicitor you could also save on legal costs. Specialist lending is available for buy-to-let and guest house landlords.

Scottish Building Society Review

The Scottish Building Society started life in 1848 as the Edinburgh Property Investment Company, and today is Scotland’s oldest mutual organization. It continues to facilitate property finance and savings throughout the country, operating from 5 branches and a regional network of agencies.

The Scottish Building Society remortgage deals in the table above could help you to:

• Benefit from a lower interest rate in the early months of the loan
• Enjoy the flexibility to overpay, underpay or take extended payment holidays, subject to sufficient mortgage credit
• Choose whether to repay the loan gradually, or on an interest-only basis
• Consolidate debts from credit and store cards

What is a remortgage?

A remortgage is when you replace your existing mortgage with a new one. There are many reasons for remortgaging, but the majority fall into one of the two following categories:

• Remortgaging to save money – If you have a fixed rate mortgage deal, your interest rate will usually switch to the lender’s Standard variable Rate (SVR) which is likely to be higher and will probably mean that you have to pay more each month. By switching to a better deal with a different mortgage provider, remortgaging could potentially allow you to benefit from lower interest rates and lower monthly mortgage repayments.
• Remortgaging to raise money – Remortgaging can allow you to release some of the equity in your home. This could be useful if you wanted to carry out repairs to the property, add an extension, help your child with their own mortgage deposit, or consolidate other existing debts.