Buckinghamshire Expands Portfolio – Mortgage Introducer
Buckinghamshire Building Society has launched a series of new mortgage products in response to changing market conditions following the pandemic.
Home from Home is the first new addition to the company’s mortgage portfolio – a proposition that gives people the ability to own a second vacation home and rent it out for up to 90 days each year as a vacation rental.
In addition, the lender launched a 90% of the value (LTV) fixed mortgage product in response to demand from its brokerage community, as well as a 5-year fixed retirement product, providing additional flexibility within the framework. of the life proposal later.
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Tim Vigeon, Loans Officer at the Buckinghamshire Building Society, said: “The mortgage market has changed dramatically in the wake of the pandemic and we want our mortgage offering to reflect that.
“By identifying potential gaps in the market and developing products that meet the needs of our customers, we can ensure that we have a product that meets everyone’s individual needs.
“This product responds to the move towards UK based vacations following the uncertainty of overseas vacations. This allows people to have the best of both worlds – a place away from home to vacation, coupled with the ability to generate income for 90 days a year.
“As a company, we are confident that these additions to our already extensive mortgage product offering will give people additional flexibility when buying their own home after a really hectic time for many.
“We continue to assess applications on a case-by-case basis and our human approach to underwriting means that we conduct a credit research rather than a credit score.
“By taking this holistic view, we can better understand the affordability of mortgage options so that they are tailored and sustainable to the borrower’s individual circumstances.