Buckinghamshire Building Society is offering a new stepped discount mortgage.

The only remaining local Building Society in Buckinghamshire has developed a brand new mortgage for house purchases and remortgages.

It is a three-year stepped, owner occupied SVR mortgage, with discounted rates for the first three years, then moving to the mutual’s standard variable rate mortgage (currently 5.24%).

The rate is 2.99% in year one, 3.99% in year two and 4/99% in the thirds year.

The maximum LTV is 60%. The minimum advance is £100,000 and the maximum is £300,000.

Ivan Gould, the Buckinghamshire’s chief executive, said: “This is a very competitive mortgage and will especially be of interest to people looking to remortgage their property while keeping their repayments at a manageable level.