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3.99% First Time Buyer fixed to 31 May 2022 [FF13]

Follow on rate is our SVR, currently 5.24%
the overall cost for comparison is 5.1% APRC

A fixed rate for first time buyers featuring no application or product fees.
  • Up to 95% LTV
  • No application fee
  • No product fee
A fixed rate for first time buyers featuring no application or product fees.
  • Initial Rate fixed to 31st May 2022
    3.99% fixed
  • Followed by our Standard Variable Rate (SVR) for the rest of the term
    5.24% variable
  • The overall cost for comparison is
    5.1% APRC
  • Maximum Loan to Value
    95% including fees
  • Application Fee
  • Product Fee
  • Early Redemption Charge
    Charges will apply to any lump sum or full redemption paid over 10% of the capital balance
    2.00% to 31/05/2021
    1.00% to 31/05/2022
  • Up to 95% LTV
  • No application fee
  • No product fee

Representative Example

A mortgage of £86,150 payable over 20 years at a fixed rate of 3.99% to 31/05/22 and then on our Standard Variable Rate of 5.24% for the remaining period, would require 24 payments of £521.75 and 216 payments of £575.06.

The total amount payable would be £137,142.96 made up of the loan amount plus interest (£50,559.96), a valuation fee (£160), a funds transfer fee (£25), solicitors fees (£148), and an exit fee (£100). 

The overall cost for comparison is 5.1% APRC representative.

Further Information


  • 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.

Higher Lending Charge

The Society will purchase a Higher Lending insurance to provide additional security where the amount of the loan exceeds 80% of the valuation of the property.

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.

  • 2.00% to 31/05/2021
  • 1.00% to 31/05/2022


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. Debt consolidation is not available.


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

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 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, but pension income is not permitted to be used for affordability purposes, so applicants cannot be retired during the term of the loan.


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

Mortgage Term

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


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.

Loan Size

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

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.

New Build

90% LTV applies to new build houses outside the M25 (London area). Houses in London and all flats have a maximum LTV of 80%. 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.