The five-year deal, which has a fixed rate of 3.09% and comes with a product fee of £1,495, has been described as a ‘market leading rate’ for mortgages in this LTV tier by the Mortgage Brain Buckinghamshire Building Society Product Comparison Report dated 8 June 2021.

It is available for standard buy-to-let borrowers with a minimum household income of £35,000 per annum (or buy-to-let limited companies set up by such borrowers).  The product has a limited tranche and all cases are expected to complete by 31 August 2021.

The 80% LTV offering benefits from the Society’s already streamlined buy-to-let application process, using an online affordability assessment and calculator to give brokers the ability to provide clients with an instant decision in principle on their application.

Tim Vigeon, head of lending at Buckinghamshire Building Society said: “We are excited to launch this 80% LTV BTL product with a five-year fixed rate that is currently the best in market.

“We have a limited tranche for this product and it is expected to sell quickly. By combining the streamlined application process using our new affordability assessment and calculator, now on our website, we can enable a very quick turnaround time for brokers with remortgage cases.”

Vigeon continued: “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.”