Buckinghamshire Building Society expands mortgage product portfolio in response to evolving market conditions
20 September 2021
Buckinghamshire Building Society today announced that they are launching a series of new mortgage products in response to the changing market conditions experienced following the pandemic.
‘The mortgage market has changed significantly as a result of the pandemic and we want our mortgage offering to reflect that. By identifying potential gaps in the market and developing products that suit the needs of our customers, we can ensure we have a product to suit someone’s individual needs.’ Said Tim Vigeon, Head of Lending, Buckinghamshire Building Society.
Home from Home is the first new addition to the Buckinghamshire Building Society mortgage portfolio – a unique proposition giving people the opportunity to own a second holiday home and rent it out for up to 90 days each year as a holiday let.
‘This product addresses the shift towards UK based holidays following the uncertainty of holidays abroad. This allows people to have the best of both worlds – a place away from home to enjoy a holiday, coupled with the opportunity to generate revenue for 90 days of the year.’
In addition, Buckinghamshire Building Society have also launched a 90% LTV fixed mortgage product in response to demand from their broker community as well as a 5 year fixed retirement product, giving additional flexibility within the later life proposition.
‘As a Society, we are confident that these additions to our already broad mortgage product offering will allow people additional flexibility when buying a home of their own after what has been a truly turbulent time for many. We continue to assess applications on a case by case basis and our human approach to underwriting means that we credit search rather than credit score. By taking this holistic view we can better understand the affordability of the mortgage options so that they are suitable and sustainable for the borrower’s individual circumstances.’ Concluded Tim.
