4.09% Bucks Solutions Impaired Credit fixed rate to 29 February 2024 [IC09]

Fees

• There is no up front 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 impaired 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% up to 28/02/2022
• 2% up to 28/02/2023
• 1% up to 29/02/2024

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

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.

Repayment

This mortgage is available on a capital and interest repayment basis only. 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. 
• Certified photographic proof of identity.

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.

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 up to max 60% Loan to value

Mortgage Term

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

Insurance

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

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.