Buckinghamshire Building Society has announced a series of rate changes across its mortgage range, including updates to a number of its three-year products.
The Society expanded its three-year offering in September, introducing new options across a number of its key lending areas. Following a positive response from brokers, the Society is encouraging intermediaries to continue considering three-year products when sourcing solutions for their clients.
The latest changes affect products across Everyday Residential, Retirement, Retirement Interest Only, Credit Restore, First Time Buyer, Buy to Let and Portfolio Buy to Let.
Among the changes, three-year Retirement and Retirement Interest Only fixed rates will move from 5.99% to 6.19%, while its three-year fixed Credit Restore products will now start from 6.39%.
The three-year fixed Everyday Residential and First Time Buyer products at up to 95% LTV will both move to 6.29%. Within the Buy to Let range, the three-year fixed Ltd Co product will be available at 6.29%, while the Portfolio BTL and Expat Portfolio BTL three-year fixed products will both move to 6.89%.
Alongside the changes to its three-year range, Buckinghamshire Building Society has also updated a number of its other products. This includes its one-year Short Term Lending discount product, which moves from 5.89% to 5.99%, as well as changes across selected two-year Everyday Residential, Credit Revive and Holiday Let products.
Claire Askham, Head of Mortgage Sales at Buckinghamshire Building Society, said:
“Since introducing more three-year options to our range, we've been really pleased with the response we've seen from brokers. It shows there is a clear appetite for products that sit between the more traditional two and five-year options.
“Three-year fixed products can offer an alternative for clients who want the certainty of a fixed rate but may not necessarily want to commit for five years, so we'd encourage brokers to keep including them when sourcing and discussing the options available to their clients.
“While we've made a number of rate changes across the range, our approach remains the same – to provide brokers with a broad range of options across the more complex areas of the market and to consider each case on its individual merits through manual underwriting.”
