The Skilled Worker visa product is priced at 6.35% and can be used for purchase and remortgage, with a maximum loan size of around £750,000.
The mutual said the product is a “significant expansion of its criteria for foreign national borrowers”, as the previous LTV was 80%.
Applicants must have lived and worked in the UK for the past two years and evidence that the deposit has been saved independently. Gifted deposits are not accepted and a £999 fee is in place.
The building society said the Skilled Worker visa product “complements its manual underwriting approach, allowing for greater flexibility and case-by-case decisions, with the aim of helping borrowers with specialist income or visa requirements”.
Claire Askham, head of mortgage sales at Buckinghamshire Building Society, said: “We know there are many people contributing to the UK economy under the Skilled Worker visa scheme who are more than capable of sustaining homeownership, but have struggled to access competitive mortgage options, particularly at higher LTVs.
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“At Bucks, we want to support those who don’t yet have indefinite leave to remain but have shown commitment and stability through sustained UK residency and employment. This product gives those individuals a fair opportunity to buy or remortgage their home, with the personal and manual underwriting approach we’re known for.”
The move comes after the lender increased the maximum LTV on its Credit Restore range from 70% to 75%, which aims to give brokers more “flexibility when supporting clients with impaired credit”.
The firm has also entered limited company borrowing and introduced top slicing to its buy-to-let (BTL) range.
