Dunfermline Building Society has reduced its fixed rate and tracker mortgage prices by up to 0.80%.
It is looking to stimulate the first time buyer market in the remaining weeks before Stamp Duty exemption expires.
The Dunfermline has dropped its two-year tracker mortgage from 3.59% to 2.79% and its two-year fixed rate mortgage from 4.29% to 3.79% for house purchases and is urging potential buyers to act fast in order to beat the Stamp Duty Holiday deadline.
Buyers have just weeks to complete house purchases before the Government’s temporary Stamp Duty exemption on properties worth £175,000 or less expires.
If original thresholds return in January, those purchasing a £175,000 property can expect to pay up to £1,750 more than they would do if a sale is complete before New Year’s Eve.
The Dunfermline says its new range of mortgages includes no Higher Lending Charges and a 10% Overpayment Facility. Properties across the whole of Scotland, including the islands, will be considered.
Niall Fraser, head of branches at Dunfermline Building Society, said: “The return of stamp duty could take the wind out of the sails of the Scottish housing market. First time buyers struggling to raise the capital for a property purchase might find the extra expense too much to bear.
