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3.30% Shared Ownership 3 year discount [DS09]

Follow on rate is our SVR currently 4.74%.
The overall cost for comparison is 4.6% APRC

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This mortgage is available on a shared ownership basis with the mortgage taken out on a share of the property of between 25% and 75% with the rent payable to the landlord on the remaining share.

Please note: we are unable to accept applications via Heylo at this time. 

  • no application fee
  • £350 product fee
  • up to 95% loan to share

This mortgage is available on a shared ownership basis with the mortgage taken out on a share of the property of between 25% and 75% with the rent payable to the landlord on the remaining share.

Please note: we are unable to accept applications via Heylo at this time. 

  • Initial Rate, a discount of 1.44% from our SVR for 3 years
    3.30% variable
  • 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 LTS
    95% LTS including fees
  • Application Fee
    none
  • Product fee - may be added to the loan.
    £350
  • 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 £102,875 (which includes a product fee of £350 and a funds transfer fee of £25) payable over 31 years and 1 month, initially on a discount of 1.44% from our SVR, giving a pay rate of 3.30% for 36 months and then our Standard Variable Rate, currently 4.74%, for the remaining period would require 36 payments £441.37 and 337 payments of £520.59.                                                    

The total amount payable would be £191,986.15 made up of the loan amount plus interest of £88,453.15 plus a valuation fee of £410, legal fees to your solicitor of £148, and exit fee of £100.        

The overall cost for comparison is 4.6% APRC representative.

Further Information

Fees

  • 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.
  • An additional 0.02% proc fee is payable to L&G mortgage club.

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

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.

Repayment

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

Maximum LTS

Maximum LTS 95% including fees. 

Age limits

The minimum age is 18 for all applicants. There is no maximum age. Earned income considered up to age 75. Cases are considered on individual circumstances.

Loan Size

Minimum loan £25,000
Maximum loan £500,000

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.

Interest

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