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3.99% Buy to Let Bucks Solutions 1, 3 year fixed rate to 31/05/2025 [BL86]

Follow on rate BTL SVR currently 6.14%.
The overall cost for comparison is 5.9% APRC

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Please note that a full DIP will be required to submit an application on this product and the rental must fit on the BTL affordability calculator and assessment form.

Available for both individual landlords and limited companies with a maximum of three Buy-to-Let mortgaged properties.

For borrowers who have a range of credit issues, refer to our credit matrix for further details.

  • No upper age limit
  • Available for non homeowners whose accomodation is tied to their work
  • 1st time landlords must be an existing homeowner

Please note that a full DIP will be required to submit an application on this product and the rental must fit on the BTL affordability calculator and assessment form.

Available for both individual landlords and limited companies with a maximum of three Buy-to-Let mortgaged properties.

For borrowers who have a range of credit issues, refer to our credit matrix for further details.

  • Initial Rate fixed to 31 May 2025
    3.99% fixed
  • Followed by our Buy To Let Standard Variable Rate (BTL SVR) for the rest of the term
    6.14% variable
  • The overall cost for comparison is
    5.9% APRC
  • Maximum Loan to Value
    75% including fees
  • Application Fee
    none
  • Product fee - may be added to the loan
    £1195
  • Early Redemption charge
    Charges will apply to any lump sum or
    full redemption paid over 10% of the capital balance
    3% up to 31/05/2023
    2% up to 31/05/2024
    1% up to 31/05/2025
  • No upper age limit
  • Available for non homeowners whose accomodation is tied to their work
  • 1st time landlords must be an existing homeowner

Representative Example

A mortgage of £215,000 payable over 25 years on an interest-only basis, initially on a fixed rate of 3.99% until 31/05/2025 and then on our Buy to Let Standard Variable Rate, currently 6.14%, for the remaining 22 years would require 36 payments of £714.88 and 264 payments of £1,100.08.

The total amount payable would be £532,934.80 made up of the loan amount plus interest (£316,156.80), a product fee (£1,195), a funds trandsfer fee (£25), valuation fee (£310), solicitors fees (£148) and an exit fee (£100).

The overall cost for comparison is 5.9% APRC representative.

Further Information

Fees

  • Product fee £1,195. This may be added to the loan subject to the maximum LTV.
  • Solicitors and licensed conveyancers fees are not based on a set scale and solicitors must be approved by Buckinghamshire Building Society.
  • Proc fees are 0.40% 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 Non Standard Bucks Solutions 1 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 31/05/2023
  • 2.00% to 31/05/2024
  • 1.00% to 31/05/2025

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

Please note that a full DIP will be required to submit an application on this product and the rental must fit on the affordability calculator below.

BTL affordability calculator and assessment form

If your columns are red then please contact us as other product options may be available. Minimum income £25,000.

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.

Age Limits

The minimum age is 21 for all applicants. There is no maximum age. Cases are considered on individual circumstances.

Loan Size

Minimum loan size £50,000.

Maximum loan size £500,000 up to 75% LTV 

Mortgage Term

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

Portability

This product is not portable.

Energy Performance Certificate (EPC)

All BTL properties being mortgaged to the Society require an EPC rating of between A and E. The Society will not lend on properties with an EPC rating of F and G.

Interest

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

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