The Buckinghamshire Building Society is launching a range of 95% loan-to-value (LTV) products aimed at first-time buyers.
It will offer lower rates to its current members and their families, as well as to all properties purchased in the county of Buckinghamshire.
Tim Vigeon, Loan Officer, Buckinghamshire Building Society, said: “As a jointly owned construction company, we are committed to doing whatever we can to help people move up the real estate ladder after a extremely difficult year.
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“Just needing a 5% down payment on a property makes buying a home more accessible for many people who can afford a mortgage on a long-term basis but have not accumulated a mortgage. large deposit. Our goal is to help these people get the support they need, which is ultimately good for our community and our economy as we emerge from the COVID era.
“We are a Buckinghamshire based company, and our philosophy is to give back to our members, their families and our local community, so we are delighted to be able to offer these improved products with them in mind.
“The Company assesses requests on a case-by-case basis, our human approach to underwriting means that we seek credits rather than credit score requests, so we can take a holistic view when reviewing an application instead. than relying on a computerized decision.
“We take the time to understand the affordability of mortgage options so that they are appropriate and viable for the borrower’s individual situation. This product is a great addition to our lineup of new buyers and gives us even more options to meet their needs. “
The Buckinghamshire Building Society predicts that demand for these products will be high and encourages brokers to submit applications for this limited loan tranche as soon as possible.