The Buckinghamshire Building Society has launched a new five-year fixed rate remortgage contract.
The product offers borrowers the opportunity to consolidate debt, raise capital for home renovations, or simply remortgage their existing home loan.
The product charges a rate of 2.05% until May 31, 2027, with a product fee of £495. It is available up to a maximum of 80% LTV, or 75% on an interest only basis.
Buckinghamshire said it will consider cases with earned income up to a maximum age of 75 and accept research indemnity insurance for this product, allowing the completion process to be as streamlined as possible.
Claire Askham, head of mortgage sales at Buckinghamshire BS, said: “It has undoubtedly been a difficult time for many. We are confident that the product will allow people to remortgage with peace of mind knowing that their mortgage payments are fixed for five years. There is always a demand for mortgage products in the market so we expect this product to be popular.
She adds that this launch follows a thorough review of the products offered by the Buckinghamshire Building Society, to ensure that the comprehensive product offering reflects the needs of an evolving market, while providing flexibility and security to brokers and their clients.