Buckinghamshire BS cuts Credit Restore rates by up to 20bps

Buckinghamshire Building Society has launched new two-year fixed rate mortgages for Credit Restore applicants, with rates starting from 6.19% - a reduction of 20bps on the previous products.

The two-year fixed rate products are priced at 6.19% up to 60% LTV and 6.69% up to 75% LTV and can be used for both purchase and remortgage purposes, with a maximum loan size of £750,000. 

The Credit Restore range is designed to support credit impaired clients who may need a higher LTV to consolidate debt or improve their financial position.

This announcement follows last month’s move to increase the maximum LTV on its Credit Restore range from 70% to 75%, which is designed to give brokers more flexibility when supporting clients with impaired credit.

Claire Askham, head of mortgage sales at Buckinghamshire Building Society, commented: “At the Society, we want to make it easier and more affordable for borrowers to repair their credit position and our reduced pricing, along with the recent increase in LTV to 75% will undoubtedly help more borrowers achieve their home ownership ambitions.

“At Bucks, we pride ourselves in helping customers that don’t always fit the norm. Many just simply need a common-sense approach to underwriting and a lender that understands the nuances of their circumstances.”