They also reduce rates on select products
Buckinghamshire Building Society and Darlington Building Society have announced new mortgage products aimed at supporting brokers working with specialist client segments.
Buckinghamshire Building Society has introduced a two-year fixed rate buy-to-let product at 5.49% up to 80% LTV, with loan sizes ranging from £50,000 to £500,000 and a £1,195 product fee. The product targets landlords seeking short-term rate certainty without committing to longer-term fixes.
In addition, the mutual has reduced rates by up to 40 basis points (bps) across its Credit Revive and Credit Restore product ranges. The Credit Revive two-year fixed is now priced at 5.59% up to 70% LTV and 6.09% up to 85% LTV. The Credit Restore two-year discounted product is now 6.25%, while the three-year fixed is set at 6.39%, both available up to 70% LTV.
These changes aim to provide more competitive solutions for clients with previous credit challenges who are now in a stronger financial position.
“We know how important it is for brokers to have reliable options for clients who are on the road to financial recovery,” said Claire Askham (pictured left), head of mortgage sales at Buckinghamshire Building Society. “By improving the pricing across Credit Revive and Credit Restore, we’re making it easier to support borrowers who don’t always fit the mould but have strong potential to sustain a mortgage. Our new fixed rate for Everyday Buy to Let also gives brokers more choice for landlords seeking short-term rate stability.”
Darlington Building Society has also launched new products aimed at specialist and visa applicants, including those with limited UK credit history: three-year fixed rates of 5.59% at 90% LTV and 5.89% at 95% LTV.
The mutual has also cut rates by up to 0.35% across its residential mortgage range, include two-year fixed rates of 5.19% at 90% LTV and 5.39% at 95% LTV, and five-year fixed rates of 4.94% at 90% LTV and 5.14% at 95% LTV. Also repriced were existing specialist rates, such as its five-year fixed rates of 5.39% at 90% LTV and 5.69% at 95% LTV.
“The market remains challenging for brokers, particularly when working with clients who have smaller deposits or non-standard income,” said Christopher Blewitt (pictured right), head of mortgage distribution at Darlington Building Society. “With affordability still under pressure, we know how important it is to offer competitive options that reflect the realities advisers and their customers are facing.”
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