Brilliant Solutions offers packaging expertise on Buckingham BS products so we are available to help with your cases and you can also access their products through our direct to lender mortgage club which not only gives you the support you need but pays you on the day of completion.
This is the latest announcement from Buckinghamshire BS.
Family Assist Range Upgraded
I am delighted to announce the expansion of Buckinghamshire Building Society Family Assist range from our existing FA09 Family Assist fixed rate to an additional three options with effect from today.
The expansions of our range now gives a choice of valuation type for the parents/grandparents – so they can choose, if property is eligible, to have an AVM instead of standard valuation which costs £95, which is a great cost saving and no need for a valuer to visit their home.
Please note that there are property exclusions for AVM desktop valuations – which are detailed on the product details on our website for FA10 &FA12, so if unable to have an AVM can instead opt for FA09 or FA11 which are the dual standard valuation options. I have also put the exclusions for AVMS at the bottom of this email too.
Duly attached is an updated Product Summary Sheet showing all our live products, which has also been updated with us now being able to offer standard valuations in Wales, since the 1st July 2020.
Family Assist mortgage offers up to a 40 year term and allows the applicant to borrow up to 100% of the purchase price. By taking a collateral charge on the parents’ property we can use equity in their property to help their children get on the property ladder with smaller deposits.
Property type exclusions for AVM option
Certain property types will not be suitable for a desk top valuation and will require a Standard Valuation report. The property types that are excluded are:
- Flats or maisonettes
- Properties valued in excess of £750,000
- Leasehold properties with less than 85 years unexpired lease
- Properties with 5 or more bedrooms
- Properties built before 1880
- Listed buildings
- Properties with land exceeding 1 acre
- A barn or other type of conversion
- New Build or undergoing significant structural alteration
- Property of non standard construction
- Subject to Shared Ownership
- Subject to structural movement past or present
- In any of the following locations:
- SE28 Thamesmeade
- SE2 Abbeywood
- SE18 Woolwich
- CA13 Workington
- CA14 Cockermouth
- The property must have a minimum value of £100,000 except in the following postcode areas where the minimum estimated value must be £150,000:
- Within M25 (UB, HA, W, NW, N, E, IG, WC, EC, SE, RM, BR. CR, SM, SW, TW)