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    • Initial Rate, a discount of 2.25% from our SVR for 3 years
      3.74% variable
    • Followed by our Standard Variable Rate (SVR) for the rest of the term
      5.99% variable
    • The overall cost for comparison is
      5.6% APRC
    • Maximum LTV
      75% including fees
    • Application Fee - payable upfront and non-refundable
      £150
    • Product Fee - may be added to the loan
      £1500
    • Early Repayment Charge
      Charges will apply to any lump sum or full redemption paid over 10% of the capital balance
      1.00% in year 1

    Fees

    • Application fee £150. This is payable upfront and is non-refundable.
    • Product fee £1,500. This may be added to the loan subject to the maximum LTV.
    • Valuation fees are payable on a set scale as detailed in the separate Fees Guide.
    • Solicitors and licensed conveyancers fees are not based on a set scale and solicitors must be approved by Buckinghamshire Building Society.
    • Proc fees are 0.80% capped at £3,000.

    Other charges may be made in respect of mortgage services. See our Fees Guide for details.

    Acceptable Credit Criteria

    This product accepts our minor adverse credit click here for details

    Early Repayment Charge (ERC)

    Early Repayment Charges of 1% are payable in the first year on any lump sum or full redemption repaid over 10% of the capital balance.

    Overpayments

    During the early repayment charge period lump sum overpayments up to 10% of the capital balance per annum may be made without attracting an early repayment charge. Should the total of lump sum overpayments exceed 10% within this period, the excess will attract an early repayment charge.

    Once the early repayment charge period has ended overpayments can be made at any time.
    If an overpayment of £500 or more is made, we will recalculate the monthly payment the following month.

    Affordability

    Please complete our BTL affordability calculator.  If your columns are red/amber then please contact us as other product options may be available. Minimum income £25,000.

    Repayment

    This mortgage is available on a capital and interest repayment basis or interest only with a suitable repayment vehicle. Payments must be made monthly by direct debit.

    Proof of Income

    • Employed applicants must have 3 months continuous employment.
    • Last 3 months bank statements.
    • Completed Budget Planner.
    • Last P60 and 3 months payslips for all employed applicants. Last 2 years accounts or SA302s for all self-employed applicants.
    • Certified photographic proof of identity.

    We will carry out electronic verification to prove the applicant’s identity, but we may also ask for documentary evidence of identity. This can include the applicant’s latest mortgage statement, certified proof of residency or other loan or card statements.
    References may be taken up and credit searches will be made. Cases may be declined due to previous adverse credit or information that is not disclosed on the application form.

    Age Limits

    The minimum age is 21 for all applicants. There is no maximum age. Cases are considered on individual circumstances.

    Loan Size

    Minimum loan size £50,000.
    Maximum loan size £500,000.

    Mortgage Term

    The maximum mortgage term is 40 years dependent on individual circumstances.

    Insurance

    We recommend that the applicant has buildings insurance on the property. It is not a requirement to buy any insurance through Buckinghamshire Building Society.

    Portability

    This product is portable.

    Property type

    Standard construction houses or flats. For leasehold properties the Society requires a minimum unexpired period of 85 years at the time of purchase and at least 55 years unexpired lease remaining after the expected redemption date. Flats over 4 storeys may be considered on an individual basis but are not acceptable if they are local authority or ex-local authority.

    For new build properties the Society requires a minimum lease term of 125 years, a maximum starting ground rent of 0.1% of the property value and no unreasonable ground rent escalators or other event fees. 

    Interest

    Interest is calculated daily on the balance outstanding and added to the account the following month.