Did you have a large down payment? That looks like a small monthly cost for such mortgage. Or maybe the interest on such loan in Scotland is very small.
Well damn, I don't think there is anything below 3.00% (3.50% more common) where I live.
That's nominal - 3.5% - 4.0% is the effective interest rate. I don't know much about mortgages, so not sure if I'm missing something. Congrats on your place - it looks great!
Effective interest rate is, to my understanding, not related to inflation. It's just a way to make loans with various compounding periods easily comparable (I'm mostly citing this from Wikipedia, I'm far from expert here: https://en.wikipedia.org/wiki/Effective_interest_rate )
I just mentioned it for the sake of providing more information to whomever was reading my comment.
