Our Bucks Solutions fixed rate to 29 February 2024 up to 60% LTV for borrowers with impaired credit.
This product should be used for all properties in England an Wales. If there are local difficulties getting a valuation it may be possible to switch to an AVM desktop valuation product subject to the lower LTVs offered by this product.
Our Bucks Solutions fixed rate to 29 February 2024 up to 60% LTV for borrowers with impaired credit.
This product should be used for all properties in England an Wales. If there are local difficulties getting a valuation it may be possible to switch to an AVM desktop valuation product subject to the lower LTVs offered by this product.
A mortgage of £86,150 payable over 20 years initially on a fixed rate of 4.09% until 29/02/2024 and then on our Standard Variable Rate, currently 4.74%, for the remaining 17 years, would require 36 monthly payments of £532.40 followed by 204 monthly payments of £558.86.
The total amount payable would be £133,581.84 made up of the loan amount plus interest (£45,999.84) plus product fee of (£999), valuation fee of (£160), legal fees to your solicitor of (£148), fees transfer fund (£25) and exit fee of (£100).
The overall cost for comparison is 4.7% APRC representative.
Other charges may be made in respect of mortgage services. See our Fees Guide for details.
This product accepts our impaired credit criteria click here for details
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.
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.
This mortgage is available on a capital and interest repayment basis only. Payments must be made monthly by direct debit.
This product is not available to self employed applicants.
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.
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.
Minimum loan size £25,000.
Maximum loan size £500,000 up to max 60% Loan to value
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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