Buckinghamshire Building Society reduces mortgage rates

By

Claire Askham

Buckinghamshire Building Society has today (4th September) cut rates by up to 0.30 percentage points across its mortgage range, and implemented term changes to selected products.

The award-winning mutual has reduced rates, effective immediately, on Buy to Let, Standard Residential, Later Life, Expat, and Holiday Let products, delivering a dynamic range of solutions to help support intermediary partners and their clients.

Examples of the new range include:

  • Prime 90% LTV five-year fixed rate – rate reduced from 5.05% to 4.99%

  • Buy to Let 80% LTV five-year fixed rate – rate reduced from 5.99% to 5.89%

  • Holiday Let 75% LTV two-year discount rate – rate reduced from 6.19% to 5.89%

  • Expat Holiday Let 75% LTV two-year discount – rate reduced from 6.19% to 5.99%

  • Deposit Light Dual Physical Valuation five-year fixed rate – from 5.79%

  • Non Standard Credit three-year fixed – from 5.99%

The Deposit Light three-year discount rate has changed to a five-year fixed rate at 5.79%, with dual physical valuation and desktop options, providing security to first-time buyers with a fixed monthly payment.

The Non Standard Credit product has been repriced and changed from a two-year fixed term to a three-year fixed term in an effort to help applicants rebuild their credit profile.

Buckinghamshire Building Society can now consider applicants who have been in a DMP for over three years, as well as those with a CCJ for parking fines up to £250, within the Prime range for residential mortgages. The Society has also reduced its SVR by 0.20% to 8.59%

Claire Askham, Head of Mortgage Sales at Buckinghamshire Building Society, said:

“We are pleased to announce a comprehensive rate reduction across our product range, which further enhances the value we offer to intermediaries and their clients.

Additionally, we have augmented several products designed to offer more options to borrowers, across a range of mortgage niches.

This launch cements our support for brokers in an increasingly complex marketplace.”

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