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3.49% Bucks Solutions non standard 3 year discount - physical valuation [D132]

Follow on rate is our SVR, currently 4.74%
the overall cost for comparison is 4.5% APRC

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Bucks Solutions 3 year discount is for borrowers who fit our non standard credit criteria up to 70% LTV for remortgages or home purchases.

This product should be used for all properties in England and Wales.

  • Individually assessed
  • Max LTV 70%
  • Limited tranche availability

Bucks Solutions 3 year discount is for borrowers who fit our non standard credit criteria up to 70% LTV for remortgages or home purchases.

This product should be used for all properties in England and Wales.

  • Valuation Type
    Physical valuation required
  • Initial Rate, a discount of 1.25% from our SVR for 3 years
    3.49% variable
  • Followed by our Standard Variable Rate (SVR) for the rest of the term
    4.74% variable
  • The overall cost for comparison is
    4.5% APRC
  • Maximum Loan to Value
    70% including fees
  • Application Fee
    none
  • Product fee - may be added to the loan.
    £999
  • Early Redemption 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
  • Individually assessed
  • Max LTV 70%
  • Limited tranche availability

Representative Example

A mortgage of £212,950 payable over 23 years initially on a discount of 1.25% from our Standard Variable Rate, currently 4.74%, giving a pay rate of 3.49% for 3 years and then on our Standard Variable Rate, currently 4.74%, for the remaining 20 years would require 36 payments of £1,128.68 and 240 monthly payments of £1,257.69.

The total amount payable would be £343.136.08 made up of the loan amount plus interest (£128,504.08), a valuation fee (£410), legal fees (£148), an exit fee (£100), a product fee (£999) and a funds transfer fee (£25).

The overall cost for comparison is 4.5% APRC representative.

Further Information

Fees

  • There is no application fee.
  • Product fee £999. 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 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 non 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 capital and interest repayment basis or up to 60% LTV on interest only with a suitable repayment vehicle. Payments must be made monthly by direct debit. 

Age Limits

The minimum age is 18 for all applicants. There is no maximum age however, all applicants must not have reached retirement during the term of the mortgage. Cases are considered on individual circumstances.

Loan Size

Minimum loan size £25,000.

Maximum loan size £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.

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