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Scottish Building Society


The Scottish Building Society was founded in 1848 as the Edinburgh Property Investment Company. It changed its name to the Scottish Building Society in 1929.

The Society has a handful of branches across Scotland and in 2013, the Scottish Building Society merged with its Edinburgh competitor – Century Building Society - to become the only remaining building society to be headquartered in Scotland.

Scottish offers a range of 3-year discounted and fixed rate RIO mortgages for homeowners who are aged 60+ and the property is in Scotland. The society will lend up to 50% of the value of the property (the LTV). The minimum loans size across the range is £30,000 and the maximum £300,000.

In the period that early repayment charges apply (ERCs) you are able to overpay 10% of the amount borrowed each year and there are no limits once the ERC period has ended.

Affordability will be assessed on an individual basis and the maximum the Society will lend will be determined by your income, which can include your pension. For joint applications, the last survivor needs to be able to demonstrate their ability to continue to repay the mortgage.

Do the high street banks offer lifetime mortgages?

The ‘big 6’ high street banks - that is Halifax, Barclays, Lloyds, HSBC, Santander and Royal Bank of Scotland (RBS) don’t currently offer lifetime mortgages or other equity release plans themselves.

Recently, Nationwide entered the lifetime mortgage market but instead of offering its own range of plans, it refers its members to Pure Retirement

Call us anytime

We understand that with different options to choose from, it can be difficult to find the right home reversion plan provider for you. That’s why our team of expert and impartial advisers are on hand to answer all your questions and find the right solution for you.

It costs nothing to give us a call and the first and only person you’ll speak to is your local adviser. That’s because we don’t have call centres. Just highly qualified and experienced advisers ready to help you.