Buckinghamshire Building Society has launched a new buy-to-let (BTL) mortgage product aimed at borrowers with non-standard credit.

This follows an increase in applications from borrowers who have had a life event that has impacted their credit profile in the past, the society stated.

Buckinghamshire revealed it is expecting demand from this type of borrower to grow, particularly with those who may have experienced unexpected financial complications during the pandemic.

The society’s new product offers either fixed or discount interest rates for the next three years so that brokers can have options to help clients focus on the lowest costs, or on the certainty of not having unexpected costs to contend with, in a period while interest rates are more volatile.

Buckinghamshire head of mortgage sales, Claire Askham, said: “The BTL market is very active at the moment and we want to help more borrowers have the opportunity to make this kind of investment.

“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.”

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