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    • Initial Rate, fixed to 28 February 2022
      3.89% fixed
    • Followed by our Standard Variable Rate (SVR) for the rest of the term
      5.24% variable
    • The overall cost for comparison is
      5.1% APRC
    • Maximum LTV
      100% including fees
    • Application Fee
      none
    • Product Fee - may be added to the loan
      £850
    • Early Repayment Charge
      Charges will apply to any lump sum or full redemption paid over 10% of the capital balance
      3.00% to 29/02/2020
      2.00% to 28/02/2021
      1.00% to 28/02/2022

    Fees

    • There is no application fee.
    • There is a product fee of £850.
    • Valuation fees are payable on a set scale as detailed in the separate Fees Guide.
    • Solicitors fees are not based on a set scale and solicitors must be approved by Buckinghamshire Building Society.
    • Proc fees are 0.38% up to a maximum of £4,000.

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

    Parents providing additional security

    Parents or grandparents can use up to 60% of the value of their own property to help their child/grandchild onto the housing ladder. Parents or grandparents must have minimum remaining equity of £130,000 and the maximum loan to value (LTV) is based on the number of bedrooms as follows:

    4+ Bedrooms 60% Maximum LTV

    3  Bedrooms 50% Maximum LTV            

    2  Bedrooms 40% Maximum LTV

    1 Bedroom homes would not be considered.

    The Society will take a charge on the relative's property to bring the Society's overall LTV to 80%. The charge on the relative's property is for a set amount.

    The relatives will have liability for any shortfall on the sale of the mortgage property in repossession subject to the maximum agreed at outset.

    The charge on the parent's property can be released subject to a re-valuation and satisfactory conduct of the mortgage account.

    We may also accept equity in holiday homes or Buy to Let properties other than the relatives' own, subject to individual approval.

    Additional Security Calculator

    Please complete our Additional Security calculator to assist in calculating the amount of charge required on the parent's/grandparent's home.

    Requirements for Parents/Grandparents assisting 

    Society will require a basic valuation of the parent's property.

    The Society will undertake an Experian credit search and electronic verification on the guarantors.

    Guarantors will need to provide statements for any mortgage or secured loans on their property.

    Society would require that the parents have a clean credit history and to verify that any existing mortgage is not on a roll up basis.

    Parents would need to take and evidence that they have had independent legal advice to ensure they are fully informed and that the solicitor can identify potential vulnerable persons.

    Higher Lending Charge

    A Higher Lending Charge does not apply.

    Acceptable Credit Criteria

    This product accepts our standard credit criteria click here for details

    Early Repayment Charge (ERC)

    Early Repayment Charges as detailed below are payable on any lump sum or full redemption repaid over 10% of the capital balance.

    • 3.00% to 29/02/2020
    • 2.00% to 28/02/2021
    • 1.00% to 28/02/2022

    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

    The First Time Buyers will need to demonstrate they can afford the mortgage payments in their own right and pass normal affordability checks.

    The amount we lend will be based on our assessment of affordability. Income multiple cap is 4.5 x first income plus 3.5 x second income or 4 x the joint income. Debt consolidation is not available.

    Repayment

    This mortgage is available on a capital repayment basis. Payments must be made monthly by direct debit.

    Proof of Income

    • Employed applicants must have 3 months with current employer.
    • 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 18 for all applicants. There is no maximum age, but pension income is not permitted to be used for affordability purposes, so applicants cannot be retired during the term of the loan.

    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.

    Mortgage Term

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

    Portability

    This product is portable, meaning that if the applicant moves home they can take it with them, subject to our lending criteria at the time.

    Loan Size

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

    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.

    New Build

    90% LTV applies to new build houses outside the M25 (London area). Houses in London and all flats have a maximum LTV of 80%. 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.

    • Initial Rate, a discount of 1.75% from our SVR
      3.49% variable
    • Followed by our Standard Variable Rate (SVR) for the rest of the term
      5.24% variable
    • The overall cost for comparison is
      4.9% APRC
    • Maximum LTV
      95% including fees
    • Application fee
      none
    • Product fee - may be added to the loan
      £999
    • Early Repayment Charge
      Charges will apply to any lump sum or full redemption paid over 10% of the capital balance
      1.50% in year 1
      1.00% in year 2
      0.50% in year 3

    Fees

    • There is no application fee.
    • There is a product fee of £999.
    • Valuation fees are payable on a set scale as detailed in the separate Fees Guide.
    • Solicitors fees are not based on a set scale and solicitors must be approved by Buckinghamshire Building Society.
    • Proc fees are 0.38% up to a maximum of £4,000.

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

    Requirements for the parents (includes step-parents)

    Pension income can be considered for parents' / step parents' affordability.
    Parents / step parents will be jointly and individually liable for the mortgage along with the occupier(s).
    The parents / step parents must take and evidence independent Legal Advice before completion.
    It is recommended that all applicants take advice about the tax implications of the way the mortgage finance and property ownership will be structured.
    All applicants may also wish to take advice to understand any future implications of capital gains and inheritance tax.

    Higher Lending Charge

    The Society will purchase a Higher Lending insurance to provide additional security where the amount of the loan exceeds 80% of the valuation.

    Acceptable Credit Criteria

    This product accepts our standard credit criteria click here for details

    Early Repayment Charge (ERC)

    Early Repayment Charges as detailed below are payable on any lump sum or full redemption repaid over 10% of the capital balance.

    • 1.5% in year 1
    • 1.0% in year 2
    • 0.5% in year 3

    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

    The income of all applicants will be taken into account for affordability purposes, but the parents will not be on the Title Deeds and therefore not jointly owning the property.

    The amount we lend will be based on our assessment of affordability. Income multiple cap is 4.5 x first income plus 3.5 x second income or 4 x the joint income (joint income is max 3 incomes).
    There is an expectation that the sole proprietor can afford the mortgage in their own right within 10 years.
    Debt consolidation is not available.

    Repayment

    This mortgage is available on a capital repayment basis. Payments must be made monthly by direct debit.

    Proof of Income

    • Employed applicants must have 3 months with current employer.
    • Last 3 months bank statements.
    • Completed Budget Planner for both properties.
    • 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.
    • Evidence of pension income if used by the parents for affordability.

    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 18 for all applicants. There is no maximum age.

    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.

    Mortgage Term

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

    Portability

    This product is portable, meaning that if the applicant moves home they can take it with them, subject to our lending criteria at the time.

    Loan Size

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

    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.

    New Build

    90% LTV applies to new build houses outside the M25 (London area). Houses in London and all flats have a maximum LTV of 80%. 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.

  • 3.19% Family Assist 3 year discount [FA02]

    • Overview
    • Interest Rates
    • How to Apply
    Full Details
    • Initial Rate, a discount of 2.05% from our SVR for 3 years
      3.19% variable
    • Followed by our Standard Variable Rate (SVR) for the rest of the term
      5.24% variable
    • The overall cost for comparison is
      4.8% APRC
    • Maximum LTV
      100% including fees
    • Application Fee
      None
    • Product Fee - payable on completion
      £850
    • Early Repayment Charge
      Charges will apply to any lump sum or full redemption paid over 10% of the capital balance
      1.5% for year 1
      1.00% for year 2
      0.5% to year 3

    Fees

    • There is no application fee.
    • There is a product fee of £850.
    • Valuation fees are payable on a set scale as detailed in the separate Fees Guide.
    • Solicitors fees are not based on a set scale and solicitors must be approved by Buckinghamshire Building Society.
    • Proc fees are 0.38% up to a maximum of £4,000.

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

    Parents providing additional security

    Parents or grandparents can use up to 60% of the value of their own property to help their child/grandchild onto the housing ladder. Parents or grandparents must have minimum remaining equity of £130,000 and the maximum loan to value (LTV) is based on the number of bedrooms as follows:

    4+ Bedrooms 60% Maximum LTV

    3  Bedrooms 50% Maximum LTV            

    2  Bedrooms 40% Maximum LTV

    1 Bedroom homes would not be considered.

    The Society will take a charge on the relative's property to bring the Society's overall LTV to 80%. The Charge on the relative's property is for a set amount.

    The relatives will have liability for any shortfall on the sale of the mortgage property in repossesion subject to the maximum agreed at outset.

    The charge on the parent's property can be released subject to a re-valuation and satisfactory conduct of the mortgage account.

    We may also accept equity in holiday homes or Buy to Let properties that the relatives own, subject to individual approval.

    Additional Security Calculator

    Please complete our Additional Security calculator to assist in calculating the amount of charge required on the parent's/grandparent's home.

    Requirements for Parents/Grandparents assisting 

    Society will require a basic valuation of the parent's property.

    The Society will undertake an Experian credit search and electronic verification on the guarantors.

    Guarantors will need to provide statements for any mortgage or secured loans on their property.

    Society would require that the parents have a clean credit history and to verify that any existing mortgage is not on a roll up basis.

    Parents would need to take and evidence that they have had independent legal advice to ensure they are fully informed and that the solicitor can identify potential vulnerable persons.

    Higher Lending Charge

    A Higher Lending Charge is not applied.

    Acceptable Credit Criteria

    This product accepts our standard credit criteria click here for details

    Early Repayment Charge (ERC)

    Early Repayment Charges as detailed below are payable on any lump sum or full redemption repaid over 10% of the capital balance.

    • 1.5% in year 1
    • 1.0% in year 2
    • 0.5% in year 3

    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

    The First Time Buyers will need to demonstrate they can afford the mortgage payments in their own right and pass normal affordability checks.

    The amount we lend will be based on our assessment of affordability. Income multiple cap is 4.5 x first income plus 3.5 x second income or 4 x the joint income. Debt consolidation is not available.

    Repayment

    This mortgage is available on a capital repayment basis. Payments must be made monthly by direct debit.

    Proof of Income

    • Employed applicants must have 3 months with current employer.
    • 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 18 for all applicants. There is no maximum age, but pension income is not permitted to be used for affordability purposes, so applicants cannot be retired during the term of the loan.

    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.

    Mortgage Term

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

    Portability

    This product is portable, meaning that if the applicant moves home they can take it with them, subject to our lending criteria at the time.

    Loan Size

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

    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.

    New Build

    90% LTV applies to new build houses outside the M25 (London area). Houses in London and all flats have a maximum LTV of 80%. 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.