Buckinghamshire Lowers Mortgage Rates, Includes Borrowers with Credit Issues

Buckinghamshire Building Society has announced some great news for anyone looking to get a mortgage, with cuts to interest rates on offer across the board.

The building society has reduced rates on its standard mortgages by up to 0.20%, meaning cheaper monthly payments for borrowers. Even better news for anyone with marks on their credit record, Buckinghamshire BS has chopped rates on its specialist mortgages by up to 0.30%.

Here are some of the key details of the new mortgage deals:

Standard Mortgages

Five-year fixed-rate mortgage: 4.79% interest for borrowers with a 25% deposit
Five-year fixed-rate mortgage: 4.79% interest for remortgaging with a 25% deposit
Two-year fixed-rate mortgage: 5.39% interest for borrowers with a 10% or 25% deposit

All of these mortgages allow you to borrow up to £750,000.

These mortgages are also available to self-employed people or those with more than one job. Buckinghamshire BS has said it will take into account overtime, bonuses, commission and income from second jobs when assessing affordability.

Mortgages for Borrowers With Credit Issues

Three-year discount rate mortgage: 6.29% interest for borrowers with a 30% deposit
Three-year fixed-rate mortgage: 6.19% interest for borrowers with a 30% deposit

Both of these mortgages allow you to borrow up to £500,000 and have a product fee of £999.

These mortgages are designed for people who have had financial problems in the past, such as bankruptcy or an IVA. In some cases, you may be eligible for a mortgage the day after your bankruptcy or IVA is discharged.

Claire Askham, head of mortgage sales at Buckinghamshire Building Society, said: “We understand the challenges many borrowers are facing in today’s market, and our repriced mortgage products offer more competitive and flexible options for both homebuyers and remortgage customers.

“By broadening our acceptance criteria, especially for those with complex incomes or recovering from financial difficulties, we are continuing our mission to provide responsible lending solutions tailored to the evolving needs of our customers.”