Buckinghamshire BS increases maximum LTV on Credit Restore range

Buckinghamshire Building Society has increased the maximum LTV on its Credit Restore range from 70% to 75%.

The change is designed to give brokers more flexibility when supporting credit impaired clients who may need a higher LTV to consolidate debt or improve their financial position.

Alongside this increase, the Society has introduced a new three-year fixed rate product with a headline rate of 6.89%, available up to 75% LTV. This product complements the existing Credit Restore options, including a two-year discounted rate and three-year fixed rate, available up to 60% LTV.

All products come with a £999 fee and are designed to offer longer-term stability to clients who are rebuilding their credit profile.

The Society encourages brokers to discuss their clients’ circumstances in more detail with their key account manager, so individual cases can be considered on merit.

Claire Askham (pictured), head of mortgage sales at Buckinghamshire Building Society, commented: “This is something we’ve been working towards for some time, and we’re pleased to be in a position to offer higher LTVs for borrowers who need that extra support to get back on track.

“There are very few options out there for credit impaired applicants who need a higher LTV for debt consolidation or to improve their financial position, so this is a meaningful change. 

“These products are designed to give applicants valuable breathing room to rebuild their credit profile, while providing brokers with confidence that there’s a lender willing to consider the story behind each case.”