Buckinghamshire Building Society has relaunched fixed-rate loans on two specialist products.  

The mutual says its joint borrower sole proprietor product is available on a five-year fix with a maximum of 90% loan-to-value. The term is based on the applicant’s selected retirement age, not the supporting parties, with a maximum term of 40 years.  

It also relaunches its impaired credit offer, which is available with an improved maximum 70% LTV, up from 60% previously, along with an initial fixed period of three years.  

The move comes after new Chancellor Jeremy Hunt this week reversed the vast majority of tax cuts announced in September’s mini-budget, although the stamp duty cut for house purchases remains.  

Last month’s tax statement led to more than a thousand products being pulled as lenders worked out how to reprice loans as the cost of debt for the government and companies lifted on international money markets, following former Chancellor Kwasi Kwarteng’s tax-cutting fiscal event.      

Buckinghamshire Building Society head of mortgage sales Claire Askham says: “As we all know, market conditions are extremely tricky right now, so launching a full range of fixed-rate products isn’t something on our immediate road map.  

“That said, one of the core purposes of our society is to help people achieve their dream of home ownership.   

“We’ve looked carefully at our product range and identified these two niche areas of lending as areas we believe fixed rate offerings will be highly beneficial to our clients.  

“Not only have we continued to lend throughout these unprecedented last few months, we’ve continued to lend with our full range of discount rate products available.   

“We do understand, however, that the priority for many of our borrowers on the joint borrower sole proprietor product and impaired credit products are looking for certainty with the cost of their repayments to assist them with budgeting, especially while we’re in the middle of a cost-of-living crisis, which is why we’ve launched these products.  

“Although we have no current plans to extend fixed rates across the rest of our product range, we will continue to innovate and update criteria where possible to ensure we’re offering practical solutions for complex cases.”