The move includes reductions of up to 30 basis points (bps) apply across five products.
In the Credit Revive range, the two-year fix is now available at 5.89% up to 70% loan to value (LTV), while it is 6.19% up to 85% LTV – down from 6.09% and 6.39% respectively. The retirement option has been cut from 5.99% to 5.85% up to 70% LTV.
In the Credit Restore range, the three-year fix stands at 6.29% up to 60% LTV, down from 6.59%. Up to 75% LTV, it is offered at 6.69%, a reduction from 6.89%.
All the products are available with a £499 product fee.
Claire Askham, head of mortgage sales at Buckinghamshire Building Society, said: “We know there are many borrowers whose circumstances have improved significantly since experiencing financial difficulties, but who can still find it challenging to access mortgage options. By reducing rates across both our Credit Revive and Credit Restore ranges, we’re making it easier for brokers to support these clients with affordable solutions that recognise their current circumstances, not just their past.”
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Atom reduces near prime rates
Atom Bank has made reductions of up to 0.1% to its near prime product range.
The changes apply across the entire range, covering deals from 60% LTV to 90% LTV, including fee-free and fee-charging options.
The two-year fix at 60% LTV with a £1,995 fee now begins at 5.39%.
Richard Harrison, head of mortgages at Atom Bank, said: “Near prime is taking on growing importance for brokers, representing a bigger proportion of their daily workload, which is why it’s important for lenders to embrace the sector. Atom Bank has always had a focus on innovative criteria and product design within this space, and we have big plans for the months ahead to support even more borrowers who fall just outside of mainstream lending criteria.”
