Buying a home in Edinburgh? Whether you're a first-time buyer, looking to remortgage, or buying an investment property, this guide covers everything you need to know about getting a mortgage in Edinburgh.
- Whole-of-market brokers see deals comparison sites don't carry, especially for non-standard income
- Loan-to-value bands (95/90/85/80/75%) drive pricing — check the nearest band boundary
- Get a soft-search decision in principle before house-hunting — it costs nothing and reveals problems early
- Start remortgage shopping 6 months before your fix ends — you can lock now and switch if rates fall
What Actually Moves the Needle
Get your decision in principle before falling in love with a property. It's a soft-search estimate of your borrowing power that estate agents increasingly require before viewings, and it surfaces credit-file surprises while there's still time to fix them.
The Edinburgh market in numbers: average property prices in Edinburgh (Scotland) sit around £342,000, meaning a 5% deposit starts near £17.1k and 10% near £34.2k. Locally, Scottish conveyancing works differently — offers are usually binding earlier. At current rates, a 90% mortgage on an average Edinburgh home costs roughly £1,692–£1,908 per month over 25 years.
Timing your remortgage matters more than most borrowers realise. Most lenders let you lock a deal half a year ahead — if rates rise you're protected, and many lenders let you switch to a cheaper deal before it starts.
Post-2023 affordability testing is stricter than many buyers expect. Lenders now stress-test your payments at a notional higher rate, and your outgoings matter as much as income. Clearing a £300/month car payment can add £15–20k to a mortgage offer.
Property Market in Edinburgh
The Edinburgh property market continues to evolve in 2026. Understanding local house prices and market conditions will help you budget effectively and choose the right mortgage product.
Current Best Mortgage Rates (May 2026)
| Lender | 2-Year Fix | 5-Year Fix | Max LTV |
|---|---|---|---|
| NatWest | 4.48% | 4.08% | 90% |
| Yorkshire BS | 4.45% | 4.15% | 95% |
| Santander | 4.56% | 4.26% | 85% |
| HSBC | 4.42% | 4.12% | 90% |
| Nationwide | 4.37% | 4.20% | 95% |
| Coventry BS | 4.43% | 4.08% | 90% |
Types of Mortgage Available in Edinburgh
- First-time buyer mortgages — specialist products with lower deposits
- Fixed-rate mortgages — 2, 3 or 5-year deals for payment certainty
- Tracker mortgages — follow the Bank of England base rate
- Buy-to-let mortgages — for investment properties in the area
- Remortgage deals — switch to a better rate on your existing home
How to Find a Mortgage Broker in Edinburgh
While there are local mortgage brokers in Edinburgh, using a national whole-of-market broker (online or by phone) often gives you access to more deals and can save you thousands. They compare 90+ lenders and many offer fee-free advice.
Stamp Duty in Edinburgh
Stamp Duty Land Tax (SDLT) applies to all property purchases in England and Northern Ireland. Scotland uses Land and Buildings Transaction Tax (LBTT) and Wales uses Land Transaction Tax (LTT). Use our free stamp duty calculator to estimate your bill.
FAQs
Can I get a mortgage with bad credit?
Usually yes, but the pool of lenders shrinks. Specialist lenders accept defaults and CCJs older than 12 months, typically at higher rates. A broker who works with adverse-credit lenders is essential here.
What happens when my fixed rate ends?
You move to the lender's standard variable rate, usually 2–3 percentage points higher. Start remortgage shopping 6 months before the end date.
Should I choose a 2-year or 5-year fix?
There is no universal answer. A 5-year fix buys certainty; a 2-year fix costs less if rates fall. Check the total cost including fees, not just the headline rate.
Will applying for a mortgage hurt my credit score?
A decision in principle usually uses a soft check, which doesn't affect your score. The full application is a hard check — which is why you should pick your lender before applying, not after.
What is loan-to-income and how much can I borrow?
Lenders cap borrowing at 4.5x income for most applicants. Some banks stretch to 5.5x for qualifying professions or joint incomes over £60,000.
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