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Scottish BS extends eligibility for professional mortgages

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  • 22/08/2019
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Scottish BS extends eligibility for professional mortgages
Scotland’s only independent building society has added actuaries, optometrists, pharmacists and vets to the list of professions eligible for its professional mortgages.

 

They join practicing accountants, doctors, dentist and lawyers. Applicants should be over 21 and registered with the appropriate governing body. Vets and pharmacists must also be partners or practice owners.  

In total there are three three-year fixed and four three-year variable rate options available with rates of 1.89 per cent, 1.99 per cent, 2.94 per cent and 3.14 per cent among the variable options, and rates of 2.74 per cent, 2.84 per cent and 3.49 percent among the fixed.

The mortgages will also be available through intermediaries.

Paul Alexander (pictured), head of business development and sales strategy, said: “We have offered professional mortgages for a number of years and have a strong track record in this area. Our underwriting approach allows us to consider every application individually and we are pleased to be able to offer these products to a wider range of professions.

“Following feedback from our brokers, we have reviewed and extended the eligibility. We will continue to listen to feedback and adjust our product offering to meet the demand of an ever changing market.” 

The professional mortgages are available on properties across Scotland, with loans from £50,000 to £500,000. The society will consider loans up to 95 per cent and also offers guarantor options for students and trainees. 

 

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