Buckinghamshire Building Society has increased rates on several three-year fixed mortgages as part of a wider repricing exercise covering residential, retirement and buy-to-let lending.

The changes follow an expansion of the society’s three-year mortgage range in September, which introduced additional products across several specialist lending categories.

Three-year fixed rates for Retirement and Retirement Interest Only mortgages have risen from 5.99% to 6.19%, while three-year Credit Restore products now start at 6.39%.

In the mainstream residential range, three-year fixed rates for Everyday Residential and first-time buyer mortgages at up to 95% loan-to-value (LTV) have moved to 6.29%.

For landlords, the three-year fixed limited company buy-to-let product is priced at 6.29%. Portfolio buy-to-let and Expat Portfolio buy-to-let three-year fixed rates have both moved to 6.89%.

FURTHER CHANGES

The society has also revised pricing outside its three-year fixed rate range.

Its one-year Short Term Lending discount product has increased by 0.10 percentage points, from 5.89% to 5.99%.

Other changes affect selected two-year Everyday Residential, Credit Revive and Holiday Let mortgages, although the society has not provided details of the individual rate movements.

Buckinghamshire Building Society said the expansion of its three-year range in September had received a positive response from intermediaries, suggesting demand for fixed rate periods between the more established two-year and five-year options.

Claire Askham (pictured), 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.”