Buckinghamshire Building Society has launched a new range of three-year fixed mortgage products.
The new three-year products include a daily residential starter with up to 95% loan-to-value (LTV) at 5.99% with no product fees and a daily residential next buyer with up to 95% LTV at 5.99% with a £999 fee.
In addition, it has added a pension product up to 75% LTV at 6.05% with a £999 fee and a pension annuity only (RIO) up to 60% LTV at a rate of 6.05% and a £499 product fee.
In addition, the company has reduced the rate for its credit repair up to 70% LTV product with a two-year discount from 5.99% to 5.79%. The product carries a fee of £999.
Buckinghamshire says the new products have been introduced in response to continued demand for more choice than the standard two- and five-year fixed options typically available on the market.
Buckinghamshire Building Society head of mortgage sales Claire Askham says: “Brokers tell us time and time again that one size rarely fits all. While two- and five-year fixed term products remain popular, many customers are looking for something in between: a product that offers payment security for more than two years, without the five-year commitment.”
“Our new three-year permanent offer is designed to give agents more flexibility when placing business, whether they are helping a first-time buyer take their first step on the ladder, supporting a client later in life or finding the right match for a regular home lender.