Buckinghamshire Building Society has launched a new range of three-year fixed mortgage products aimed at giving brokers more options between two-year and five-year fixes.

The society said the range had been introduced in response to demand for products that offer borrowers more certainty than a two-year deal without requiring them to commit to a longer five-year fixed rate.

The new range includes an Everyday Residential first-time buyer product up to 95% LTV at 5.99% with no product fee, and an Everyday Residential next-time buyer product up to 95% LTV at 5.99% with a £999 fee.

It also includes a retirement product up to 75% LTV at 6.05% with a £999 fee, and a retirement interest-only mortgage up to 60% LTV at 6.05% with a £499 fee.

Buckinghamshire has also reduced the rate on its Credit Revive two-year discounted product up to 70% LTV from 5.99% to 5.79%. The product carries a £999 fee.

Claire Askham, head of mortgage sales at Buckinghamshire Building Society, said: “Brokers tell us time and again that one size rarely fits all. While 2-year and 5-year fixed products remain popular, many clients are looking for something in between – a product that offers payment security for longer than two years, without the commitment of fixing for five.

“Our new 3-Year Fixed range has been designed to give brokers more flexibility when placing cases, whether they are helping a first-time buyer take their first step onto the ladder, supporting a customer in later life, or finding the right fit for a mainstream residential borrower.

“Alongside this, our reduced Credit Revive rate demonstrates our ongoing commitment to borrowers who may need a more considered approach. Through manual underwriting and The Bucks Way of lending, we remain focused on helping brokers find solutions for a wide range of client circumstances.”