The adverse credit BTL product from Buckinghamshire Building Society is available with a three-year discount of 2.4% on the lender’s standard variable BTL rate to give a 6.39% pricing. 

It is available for loans of up to £500,000 up to 75% loan to value (LTV). The product has no application fees and a product fee of £1,195. 

It is open to landlords who have missed payments on secured and unsecured loans, with defaults, county court judgements (CCJs), mortgage arrears, and payday loans. It will also consider borrowers with missed utility payments. 

The product is open to individual and limited company landlords with a maximum of three BTL properties, including regulated and consumer properties. 

Claire Askham (pictured), head of mortgage sales at Buckinghamshire Building Society, said: “Our buy-to-let non-standard credit mortgage is a new area of lending for the society, and fills an important gap in the market. Brokers are crying out for more options for their landlord clients who have experienced minor credit issues, with an insufficient level of choice on the market currently. 

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“Landlords have not been immune to the cost-of-living pressures, and will benefit from the flexibility built into our new product. Buckinghamshire Building Society is determined to work closely with brokers, and ensure our proposition meets the needs of their clients.” 

The mutual recently upped the maximum LTV across its BTL lending, with a five-year fix available at 80% LTV.