Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.

Buckinghamshire BS and Atom Bank Cut Rates on Specialist Mortgage Products

Buckinghamshire Building Society has reduced rates across its Credit Revive and Credit Restore mortgage ranges, which are aimed at borrowers with historic credit challenges. Atom Bank has also announced reductions to its near prime product range.

Buckinghamshire Building Society's changes include reductions of up to 30 basis points across five products. In the Credit Revive range, the two-year fixed rate is now 5.89% up to 70% loan to value (LTV), and 6.19% up to 85% LTV, down from 6.09% and 6.39% respectively. The retirement option has been reduced from 5.99% to 5.85% up to 70% LTV. In the Credit Restore range, the three-year fixed rate is now 6.29% up to 60% LTV, down from 6.59%, and 6.69% up to 75% LTV, down from 6.89%. All these products are available with a £499 product fee.

Atom Bank has made reductions of up to 0.1% across its near prime product range. The changes apply to deals from 60% LTV to 90% LTV, including both fee-free and fee-charging options. The two-year fixed rate at 60% LTV with a £1,995 fee now starts at 5.39%.

These rate changes may be relevant to letting agents and inventory clerks working with landlords or tenants who have experienced financial difficulties or who fall just outside mainstream lending criteria. The adjustments could provide more accessible mortgage options for clients with complex credit histories.