Financial matters

Mortgage - Scottish mortgages and brokers
The actual process of buying a property in Scotland is somewhat different to the procedure in England and Wales. However the vast majority of Banks and mortgage lenders offer their products north of the border, its just the legal purchasing process thats different, the mortgages, generally speaking, are the same in terms of terms and rates etc. It is extremely important however to use a Scottish based broker or mortgage advisor to guide you through the whole process. Unless you have extensive mortgage experience you will need someone to help you. The basic types of mortgages available in Scotland are:-





• Fixed rate mortgages in Scotland
  With this type of mortgage, the rate of interest you pay remains the same for the Fixed Rate period, even if the standard variable rate goes up or down. This makes it easier to budget as you know that your mortgage repayments will be the same every month.
• Capped rate Scottish mortgage
  With this type you pay the capped rate when the standard variable interest rate is higher, but when the standard variable ratedrops below the capped rate, you get the lower rate. basically the capped rate is the maximum interest rate you will pay - but it could come down!
• Variable rate mortgage for Scotland residents
  For variable rate read “normal mortgage”, quite simply you pay the prevailing mortgage rates and payments can go up or down over the term of the mortgage.
• Discounted Scottish Mortgage
  With this type you get a discount from the normal rate for a fixed period of time. During this fixed period you interest rate and repayments will go up or down along with interest rates but you get a fixed discount. For example if the discount is 2% and the standard mortgage rate rises from 6% to 8%, then your rate rises from 4% to 6%.



Luckily there are excellent brokers and independant financial advisors all over Scotland to help you through the process and make sure you make the right decision not spending any more than you have to! We can introduce you to mortgage advisors edinburgh, mortgage advisor glasgow, established mortgage broker in Dundee, top mortgage advisors in Aberdeen and mortgage brokers in Perth. Whether you are looking for mortgage in Ayr, East Kilbride, Falkirk, Fife, East Lothian, the Highlands and Islands or anywhere else throughout Scotland, there are experienced professionals to assit you either by telphone, email or face to face - its your choice!