| Calling all intermediaries.. Great News! Buckinghamshire Building Society launches new product to make the Buy-to-Let market more accessible for borrowers. Buckinghamshire Building Society have launched a new BTL mortgage product particularly aimed at those with non-standard credit*, following an increase in applications from borrowers who have had a life event that has impacted their credit profile in the past. The product offers either fixed or discount interest rate for the next three years so that brokers can have options to help clients to focus on the lowest costs or on the certainty of not having unexpected costs to contend with in a period where interest rates are more volatile. The Society expects demand from this type of borrower to grow, particularly with those who may have had some unexpected financial complications during the pandemic. The new product recognises that life sometimes throws up some unexpected challenges but Buckinghamshire Building Society believes that this shouldn’t stop borrowers from being able to invest appropriately. The Buy-to-Let market plays an important role in the housing market in England and Wales, and landlords provide much needed accommodation for over 4 million households. Despite tax changes over the last five years, a recent survey by Simply Business showed that 23% of Landlords would like to invest in another Buy-to-Let property this year, demonstrating that it can be a good financial investment.(1) What’s more:
“The Buy-to-Let market is very active at the moment and we want to help more borrowers have the opportunity to make this kind of investment. We recognise that sometimes life events do impact credit history and this product means that our underwriters can take a common sense approach to lending and make a decision to support individuals in the right circumstances.” Claire Askham, Head of Mortgage Sales, Buckinghamshire Building Society. To find out more about this brand new product, visit https://www.bucksbs.co.uk/intermediaries/buy-to-let-44001/ * Non-standard credit cases that fit our Bucks Solutions 1 credit criteria. Visit the intermediaries page on our website for our Credit Criteria Matrix and full product details; www.bucksbs.co.uk/intermediaries/all |
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