Buckinghamshire Building Society has launched a new five-year fixed rate remortgage deal.

The product offers borrows the option to consolidate debts, raise capital for home improvements, or simply remortgage their existing home loan. 

The product charges a rate of 2.05% until 31 May 2027, with a product fee of £495. It is available up to a maximum 80% LTV, or 75% on an interest-only basis.

Buckinghamshire said it will consider cases with earned income up to a maximum age of 75 and will accept search indemity insurance for this product, enabling the completion process to be as streamlined as possible.

Buckinghamshire BS head of mortgage sales Claire Askham says: “It has undoubtedly been a challenging time for many. We are confident the product will allow people to remortgage with peace of mind, knowing that their mortgage payments are fixed for five years. There continues to be demand for remortgage products in the market and we therefore expect this product to be popular.”

She adds that this launch followed an extensive review of the products on offer from Buckinghamshire Building Society, to ensure the full product offering reflects the needs of a changing market, while providing flexibility and security to brokers and their clients.