Buckinghamshire Building Society has launched a new limited-time 5-year fixed rate remortgage product.
Borrowers have the option to do a straightforward remortgage, or they can use the opportunity to either consolidate existing debts, or raise capital for home improvements.
Claire Askham (pictured), head of mortgage sales at the Bucks, said: “It has undoubtedly been a challenging time for many, so we have launched this product to demonstrate our dedication to helping people during these uncertain times; we are confident the product will allow people to remortgage with peace of mind, knowing that their mortgage payments are fixed for five years.
“There continues to be a vibrant demand for remortgage products in the market and we therefore expect this product to be popular.”
Launched in 2021, the Buckinghamshire Building Society affordability calculator will enable these remortgage cases to be processed quickly, assuming all the correct information is received at DIP stage.
The product has a rate of 2.05% fixed for 5-years with a product fee of £495 and a maximum LTV of 80%.
Buckinghamshire Building Society will consider cases with earned income up to maximum age 75 and will accept search indemnity insurance for this product, enabling the completion process to be as streamlined as possible.
Askham added: “This new product launch follows an extensive review of the products on offer from Buckinghamshire Building Society, to enable our full product offering to reflect the needs of this ever-changing market and ultimately provide flexibility and security to brokers and clients at a time when they need it most.”
