Guide to Mortgages
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Getting mortgages in Scotland?

Getting mortgages in Scotland is slightly different to buying in England.

  • In Scotland, a value is placed on a house and interested parties get independent valuations completed and offer their highest bid. Unlike in the UK where people would usually put in bids below the advertised price.
  • It is essential to appoint a Solicitor in Scotland as there is a separate and distinct legal system.
  • Survey is conducted to confirm value and condition.
  • Once survey and valuation has been done, you must present offers to your solicitor, not the estate agents as done in England.
  • At time of offering you will name a settlement date, by which date you will need to have funds available.
  • The selling agents can be asked to note your interest, so should another party offer you may be given the chance to submit a competing offer, and a closing date is fixed.
  • Once the closing date has been set your offer will be submitted. At this point there is a chance of your offer being rejected, in which case the money and time you have spent on the valuation is non refundable.
  • Should your offer be successful, the two solicitors negotiate the missives, these are the formal letters dealing with the details of the contract.
  • At this point you are contractually bound to buy, and gazumping cannot happen.

Download the Mortgage PDF Guide here - see our other free PDF guides here

Guide Contents

To Buy or to Rent
What is the process of getting a mortgage in England?
Getting mortgages in Scotland
The cost of buying a house
Different types of mortgages
Self Certified mortgage
Apply for a mortgage
Mortgage FAQ
Where to get more mortgage help


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