History

The Dunfermline Building Society was originally established in 1869 in Dunfermline, Fife Scotland. It enjoyed a rich and strong history including over 20 acquisitions during the last hundred and fifty years including: the Stenhousemuir, Peebles, Fourth Fifeshire Investment Company, the Stirlingshire, and the Edinburgh and Paisley Building Society.

At one time, it was the largest building society in Scotland and 12th largest in the UK. In 1999, it launched a telephone banking service called Dundermline Direct and by the end of 2005, it had 34 branches and 38 agencies. They also had a large commercial portfolio and had a significant interest in social housing projects.

However, in March 2009 the Society was deemed no longer financial viable, and was put up for sale. Nationwide Building Society, along with the Bank of England assumed control. Nationwide purchased the retail and wholesale deposits, head office and most of the residential mortgages, and the Bank of England assumed the commercial lending portfolio.

Clients are still part of Dunfermline and they continue to offer services under the guise of Nationwide, joining their 15 million Nationwide customers.

Remortgages offered through Dunfermline Building Society

Clients of Dunfermline still have access to Dunfermline remortgage schemes including:

Discount - your mortgage rate will be set at a discount off the Society's standard variable rate for a 2 year period. There are two options. The first, with a higher discount rate, is direct and has to be conducted directly through a Dunfermline branch. The second has a cash back option but is set at a lower discount rate. An arrangement fee is applicable. An early repayment charge will apply during the discount period.

Tracker - your mortgage rate is linked to the Bank of England base rate. It is set above the Bank base rate for the whole term of the mortgage. This type of mortgage also has a cash back option. An arrangement fee is applicable. An early repayment charge will apply.

Lifetime - this mortgage product is called "resteasy" - it is set at a variable rate for the first 2 years and then reverts to the Society's standard variable rate for the rest of the mortgage term. This product is only available to people over the age of 50yrs. This mortgage has a cash back option. An early repayment charge will apply.

Standard Variable Rate - your rate will be set a t the Society's standard variable rate for the whole mortgage term. There is no arrangement fee. An early repayment charge will apply.

Buy to Let - Dunfermline has two different Buy to Let mortgages. The first is a 2 year fixed rate mortgage. After the fixed rate period has finished the mortgage will revert to the Society's standard variable rate. An arrangement fee is applicable. An early repayment charge will apply during the fixed rate period. The second option is a full term Buy to Let tracker mortgage that is linked to the Bank of England base rate. It is set above this rate for the whole term. There is no arrangement fee. An early repayment charge will apply.

Shared Ownership - this mortgage is designed to finance the purchase of a home for the borrower by sharing the cost of the mortgage with a Housing Association. Your rate is set at the Society's standard variable rate for the whole mortgage term. There is no arrangement fee. An early repayment charge will apply.