Buckinghamshire Building Society launches 80 per cent LTV BTL deal

The minimum household income for the product is £35,000 and is available for limited companies and individuals.

The product has a limited tranche, with the lender setting a 31 August deadline for cases to be completed.

The offering is currently the market leading rate according to the lender’s product comparison report done in conjunction with Mortgage Brain.

The product will also use the lender’s online affordability assessment and calculator, as part of its streamlined buy-to-let application process, which will give brokers an instant decision in principle on applications.

Buckinghamshire Building Society’s head of lending Tim Vigeon (pictured) said he expected the product to sell quickly due to the limited tranche, and the affordability calculator and streamlined application process would enable a quick turnaround for brokers with remortgage cases.

Vigeon said: “We anticipate that brokers will welcome this very attractive new product in the crowded BTL market and will seek to take advantage of the short window of opportunity for their clients.”