Buckinghamshire Building Society has introduced two five-year fixed rate products up to 90% and 80% loan-to-value (LTV), respectively.

The prime residential product is a five-year fix with a rate of 5.24% up to 90% LTV, which will be available for purchase and remortgage customers.

The society suggests that the product will suit remortgage customers due to capital raising capabilities for debt consolidation accepted up to 80% LTV and up to 90% LTV for ‘other’ reasons such as home improvements.

It is available on an interest-only, capital repayment, or part and part basis up to a maximum term of 40 years and has a minimum loan size of £50k and a maximum loan size of £750k.

Applications will be considered for clients with active debt management plans if registered over three years ago.

Non-standard earnings such as overtime, commission, bonuses and income from multiple revenue streams may also accepted.

In addition, a five-year fixed buy-to-let (BTL) product with a rate of 5.99% has been launched.

This is available up to 80% LTV, up from its previous 75% LTV BTL lending boundary.

The BTL product is open to first-time landlords, limited companies or individual landlords on purchase or remortgage basis.

It includes lending on new build flats up to six floors high.

It also comes with a maximum term of 40 years, the option of a day one remortgage and a minimum loan size of £50k and a maximum loan size of £500k.

Buckinghamshire Building Society head of mortgage sales Claire Askham says: “We’re experiencing a steady uplift in demand across the residential mortgage market from both a purchase and remortgage perspective and this is a product which will help provide our intermediary partners and their clients with an attractive option at the higher end of the LTV scale. Especially for those homeowners who are carefully evaluating their remortgage requirements.”

“The decision to increase our BTL lending to 80% also represents a positive move for the sector as we continue to see landlords appraising their portfolios through divesting, refinancing and taking advantage of a variety of property-related opportunities as they arise.”