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    • Initial Rate fixed to 29th February 2024
      3.99% fixed
    • Followed by our Standard Variable Rate (SVR) for the rest of the term
      4.74% variable
    • The overall cost for comparison is
      4.6% APRC
    • Maximum Loan to Value
      60% including fees
    • Application Fee
      none
    • Product fee
      none
    • Early Redemption charge
      Charges will apply to any lump sum or full redemption paid over 10% of the capital balance
      3.00% to 28/02/2022
      2.00% to 28/02/2023
      1.00% to 29/02/2024

    Fees

    • There is no application fee.
    • There is no product fee.
    • 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.

    Acceptable Credit Criteria

    This product accepts our standard credit criteria click here for details

    No exceptions to standard credit criteria and no mortgage arrears in last 12 months as evidenced on Experian search.

    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 28/02/2022
    • 2.00% to 28/02/2023
    • 1.00% to 29/02/2024

    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

    New montly payment must be equal to or less than applicants existing mortgage payment.

    No budget planner analysis will be required with the application.

    The application must meet normal multtiples of 4.5 single or 4 x joint based on evidenced income.

    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 with current employer.
    • Last months bank statements.
    • Last P60 and last months payslip for all employed applicants.
    • Last years SA302 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. Cases are considered on individual circumstances.

    Loan Size

    Minimum loan size £25,000
    Maximum loan size £400,000 up to 60% LTV on repayment; 30% LTV on interest only or 50% LTV for part & part.

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

    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.

    Interest

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