Buckinghamshire Building Society introduces new products

April 22, 2024 by Alan

Mortgage Advisors

Buckinghamshire Building Society has announced the addition of two further products to its slate of mortgage loans, one of which is being targeted at people with credit history issues.

The first of the two new products introduced by the lender is a three-year fixed deal that is suitable for people with adverse credit. It comes with a starting rate of 6.59%; the maximum loan-to-value (LTV) that is on offer is 70%. There is also a fee for this particular mortgage that stands at £999.

Given the increasing number of people who have developed credit issues over the past few years, the introduction of this product will be good news for mortgage advisors. It is not the only new loan that Buckinghamshire BS has brought in though.

It has also added a five-year discount mortgage that is interest-only and that comes with a variable rate of 5.69%. The top LTV for this loan is 60%, while the product fee is £499. The mortgage is primarily designed for people who have retired.

Claire Askham from Buckinghamshire BS stated to Mortgage Strategy that:

“Over the last couple of months we’ve completed a thorough review of our product range with the aim of making it more accessible for more applicants – whether that’s by making adjustments to criteria, reducing product fees or launching innovative new features.”

People with the CeMAP mortgage advisor qualification who are trying to find suitable products for those who have developed credit issues will welcome a loan like this hitting the market.