Bucks BS cuts rates by up to 0.30% on credit repair range

Buckinghamshire Building Society has cut rates across a number of products in its Credit Revive and Credit Restore mortgage ranges, with reductions of up to 0.30%.

The changes apply to five products designed for borrowers with previous credit issues who may not meet mainstream lending criteria.

Within the Credit Revive range, the two year fixed rate product is now available at 5.89% up to 70% loan to value and 6.19% up to 85% LTV, reduced from 6.09% and 6.39% respectively.

The retirement option within the range has also been reduced from 5.99% to 5.85% up to 70% LTV.

In the Credit Restore range, the three year fixed rate is now available at 6.29% up to 60% LTV and 6.69% up to 75% LTV, down from 6.59% and 6.89% respectively. All products carry a £499 product fee.

The lender said its Credit Revive and Credit Restore products are aimed at borrowers rebuilding their financial position following previous credit difficulties.

Claire Askham, head of mortgage sales at Buckinghamshire Building Society (pictured), said: "We know there are many borrowers whose circumstances have improved significantly since experiencing financial difficulties, but who can still find it challenging to access mortgage options. By reducing rates across both our Credit Revive and Credit Restore ranges, we're making it easier for brokers to support these clients with affordable solutions that recognise their current circumstances, not just their past."

She added: "At Buckinghamshire Building Society, we take a common-sense approach to lending. Through manual underwriting and individual case assessment, we're able to consider a broader range of circumstances and help more borrowers achieve their homeownership goals."