Buckinghamshire BS announce rate reductions on Credit Repair and Impaired Credit Products
Buckinghamshire Building Society has announced today that its range of Credit Repair and Impaired Credit products have been reduced by 20 bps and 40 bps respectively.
Tim Vigeon, Head of Lending, commented on the changes: “Those with a less than a perfect credit record need support from specialist lenders like Buckinghamshire Building Society.
Figures from the Registry Trust show that there were more county court judgments (CCJs) against consumers in England and Wales during 2017 than any other year since current records began in 2005.”
Bucks Solutions level 2 - Credit Repair
| Product | Initial rate | Discount from SVR | Follow on rate | APRC | Max LTV | ERC | Prod fee |
| CR05 3 year discount | 3.79% | 1.45% | 5.24% | 5.0% | 70% |
1.5% year 1 1.0% year 2 0.5% year 3 |
£999 |
Bucks Solutions level 3 - Impaired Credit
| Product | Initial Rate | Discount from SVR | Follow on rate | APRC | Max LTV | ERC | Product fee |
| IC02 3 year discount | 4.59% | 0.5% | 5.24% | 5.2% | 60% |
1.5% year 1 1.0% year 2 0.5% year 3 |
£999 |
Tim continues: “As we do not credit score but manually assess all our applications we can investigate the reasons for poor credit, and take a balanced view of each case. As a mutual, providing a solution for these types of customers is part of our mission to help as many borrowers as we can to buy their own home. “
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