This will be open to borrowers who have had financial events including up to two missed payments in the last three years, up to one missed mortgage payment and defaults worth up to £1,000. 

The mutual launched the product in response to an increase in applications from buy-to-let borrowers with impaired credit profiles. It said it expects more demand from this borrower type. 

The mortgage offers either a fixed or discount interest rate for three years at 3.99 per cent and 3.39 per cent respectively. It has a product fee of £1,195 and the mutual will lend up to a maximum of 75 per cent loan to value.

Claire Askam (pictured), head of mortgage sales at Buckinghamshire Building Society, said: “The buy-to-let market is very active at the moment and we want to help more borrowers have the opportunity to make this kind of investment.  

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“We recognise that sometimes life events do impact credit history and this product means that our underwriters can take a common sense approach to lending and make a decision to support individuals in the right circumstances.”