Mortgage Rates Slashed: Buckinghamshire Building Society Cuts Interest Rates Across Range

In a move to offer more competitive deals to homebuyers, Buckinghamshire Building Society has reduced interest rates by up to 0.20 percentage points across its mortgage products. The cuts, which take effect immediately, apply to standard residential, later life, first-time buyer, and expat buy-to-let products.

“We’re delighted to reduce rates across our mortgage range, ensuring we deliver ever greater value to brokers and their clients,” said Claire Askham, head of mortgage sales at Buckinghamshire Building Society.

The reductions are designed to provide more attractive options for brokers and their clients, whether they are first-time buyers, landlords, later life borrowers, or expats. According to Askham, “Applying these cuts across such a wide range of products means that brokers have more attractive options for their clients.”

Mortgage rates have been on the rise, but Buckinghamshire Building Society is bucking the trend.

Examples of the new range include:

• Prime 90% Loan To Value (LTV) five-year fixed rate - rate reduced from 5.24% to 5.05%
• Prime 90% LTV three-year discount - rate reduced from 5.99% to 5.79%
• Prime 95% (purchases only) three-year fixed rate - rate reduced from 5.89% to 5.74%
• JBSP Deposit Lite five-year fixed rate - rate reduced from 5.99% to 5.89%
• Retirement interest-only five-year discount - rate reduced from 5.69% to 5.59%
• Expat buy-to-let three-year fixed rate - rate reduced from 6.19% to 6.09%

Despite the rate cuts, average mortgage rates have continued to rise, albeit at a slower pace. According to Moneyfacts, rates for two and five-year fixes increased by 0.02% - the smallest monthly rise of the year.

Mortgage applications can be a complex process, but with competitive rates, it’s easier to get on the property ladder.

The move by Buckinghamshire Building Society is a welcome one, especially for those looking to get on the property ladder or remortgage their existing property. With more competitive rates on offer, borrowers may find it easier to secure a mortgage deal that suits their needs.

A new home is within reach with competitive mortgage rates.

For those considering a mortgage, now may be the perfect time to explore their options. With Buckinghamshire Building Society’s reduced rates, borrowers may find it easier to secure a mortgage deal that suits their needs.