Mortgage Prisoners are a group of customers identified by the FCA, who, following a Mortgage Market Review have been unable to switch to a better mortgage deal with their existing provider or to a new lender.
Mortgage Prisoner customers should approach an FCA Mortgage Prisoner approved broker to enquire about their options.
We are unable to accept applications from brokers who are not registered and approved by the FCA for Mortgage Prisoner cases.
Mortgage Prisoners are a group of customers identified by the FCA, who, following a Mortgage Market Review have been unable to switch to a better mortgage deal with their existing provider or to a new lender.
Mortgage Prisoner customers should approach an FCA Mortgage Prisoner approved broker to enquire about their options.
We are unable to accept applications from brokers who are not registered and approved by the FCA for Mortgage Prisoner cases.
A mortgage of £145,095.00 (which includes a funds transfer fee of £25) payable over 32 years initially on a fixed rate of 3.99% until 31/05/2025 and then on our Standard Variable Rate, currently 5.39% for the remaining period, would require 36 payments of £669.61 followed by 348 payments of £784.55.
The total amount payable would be £297,687.36 made up of the loan amount plus interest (£152,034.36) plus a valuation fee of £310, legal fees to your solicitor of £148 and exit fee of £100.
The overall cost for comparison is 5.2% APRC representative.
Other charges may be made in respect of mortgage services. See our Fees Guide for details.
This product accepts our standard credit criteria click here for details
No exceptions to standard credit criteria and no mortgage arrears in last 12 months as evidenced on Experian search.
Early Repayment Charges as detailed below are payable on any lump sum or full redemption repaid over 10% of the capital balance.
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.
New montly payment must be equal to or less than applicants existing mortgage payment.
No budget planner analysis will be required with the application.
The application must meet normal multiples of 4.5 single or 4 x joint based on evidenced income.
This mortgage is available on a capital and interest repayment basis or up to 30% LTV on interest only with a suitable repayment vehicle. Payments must be made monthly by direct debit.
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.
Minimum loan size £25,000
Maximum loan size £400,000 up to 60% LTV on repayment; 30% LTV on interest only or 50% LTV for part & part.
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.
Interest is calculated daily on the balance outstanding and added to the account the following month.
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In order to apply for one of our mortgages you need to contact a mortgage broker. Mortgage Advice Bureau works with us to provide our customers with expert mortgage and protection advice. To find out more visit Mortgage Advice Bureau