The new product is designed to provide brokers and their clients with greater flexibility around short-term lending solutions.

The new product is available at 5.89%, a discount of 2.05% from its SVR for the first 12 months, with a £2,500 product fee. It offers borrowers the ability to repay or refinance without incurring an early repayment charge (ERC).

Available for both purchase and remortgage applications, the product can be used on houses and flats, including new build properties and is offered on both repayment and interest-only terms.

The mortgage is available for loan amounts between £100,000 and £500,000.

Buckinghamshire Building Society head of mortgage sales Claire Askham says: “Not every borrower is looking for a long-term fixed rate commitment. We regularly speak to brokers whose clients need a shorter-term solution that gives them flexibility while they work towards a future change in circumstances.”

“Whether that’s a planned refinance, a property sale, the release of funds, or another anticipated event, this product provides an option for borrowers who want access to short-term lending without being tied in by early repayment charges.”