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3.19% Shared Ownership 3 year discount [DS06]

Follow on rate SVR currently 5.24%.
The overall cost for comparison is 4.9% APRC

  • no application fee
  • £350 product fee
  • up to 95% loan to share
  • Initial Rate, a discount of 2.05% from our SVR for 2 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
    4.9% APRC
  • Maximum LTV
    95% of the share being purchased
  • Application Fee
  • Product fee - may be added to the loan.
  • 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
  • no application fee
  • £350 product fee
  • up to 95% loan to share

Representative Example

A mortgage loan of £102,500 payable over 31 years, initially on a discount of 2.05% from our Standard Variable Rate, currently 5.24%, giving a pay rate of 3.19% for 3 years and then on our Standard Variable Rate (SVR), currently 5.24%, for the remaining 28 years would require 36 payments of £435.80 and 336 payments of £549.61.

The total amount payable would be £201,015.76 made up of the loan amount plus interest of £97,482.76 plus a valuation fee (£410), legal fees to solicitors (£148), a product fee (£350), a funds transfer fee (£25) and an exit fee (£100).

The overall cost for comparison is 4.9% APRC representative.

Further Information


  • There is no application fee.
  • Product fee is £350 which may be added to the loan subject to the maximum LTV.
  • Valuation fees are payable as detailed in the separate tariff and will be instructed by the Society. 
  • Solicitors and licensed conveyancers fees are not based on a set scale and solicitors must be approved by Buckinghamshire Building Society.
  • Funds transfer fee £25.
  • Proc fees are 0.38% capped at £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

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.

  • 1.50% in year 1
  • 1.00% in year 2
  • 0.50% in year 3


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.


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.


These mortgages are available on a repayment basis only. Payments must be made monthly by direct debit.

Maximum LTS

Maximum LTS 95% of the customer’s share of the property between 25% and 75% including fees. The maximum LTV on the actual property value is 80%.

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 also carry out electronic verification to prove the applicant’s identity, but we may also ask for further 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

Minimum age 18. There is no maximum age limit. Cases are considered on individual circumstances.

Loan Size

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

Mortgage Term

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


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


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. 

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