3 Year Stepped Discount Owner Occupied SVR

Available to customers looking to purchase or re-mortgage owner-occupied property in England and Wales, the discounted rate is 2.25% below the Standard Variable Rate (currently 5.24%) for the first year, 1.25% below the Standard Variable Rate for the second year and 0.25% below the Standard Variable Rate for the third year. The Standard Variable Rate will apply for the remainder of the mortgage term.

 Maximum Advance 60% on Repayment basis only
 Stepped Discounted Rates Year 1Year 2Year 3
2.99%3.99%4.99%
 Current Standard Variable Rate 5.24%
 The overall cost for comparison is 5.2% APR
 Term Discount Rate applies 3 years stepped as shown above
 Arrangement fee £995 which must be submitted with the application and is non-refundable.
 Valuation fee There is no valuation fee for re-mortgages.For purchasers, the valuation fee is dependent on property price. See Your Guide to Mortgages.
 Early repayment charge 3% of the amount repaid during the discount period
 Minimum advance £100,000
 Maximum advance £300,000

 Interest is calculated annually as at 31st December.

Individual assessment is given to all applicants by experienced underwriters.

Income multiples of 4 x first income plus 2.5 x second income or 3.75 x the joint income are available.

Reference enquiries will be taken up and credit searches made. Cases may be declined due to previous loan arrears or if essential information is not disclosed on the application form.

You are not required to buy any insurance through Buckinghamshire Building Society.

Variable interest rates can go up or down. 

The actual rate available will depend upon your circumstances. Ask for a personalised illustration. Mortgage Department 01494 879517.

 

 

 

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

 

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