Buckinghamshire Building Society has partnered with Air Group to launch an exclusive four-year fixed rate later life mortgage product for borrowers over the age of 50.

The product comes with a 75% maximum LTV fixed at 2.89% until 30 November 2025, and has a £999 product fee.

With a “no maximum age” policy and bespoke underwriting, Buckinghamshire said it would be working closely with Air Group to provide its adviser users with access to this product. The product offers loans between £100,000 up to £750,000 with a choice of interest-only, repayment or part and part loans.

The society also revealed that the product also considers other forms of income that may be used in addition to standard pensions, combining this with affordability as an alternative to income multiples.

Buckinghamshire head of lending, Tim Vigeon, commented: “We have listened to recent feedback from Air Group, highlighting that over 70% of advisers identified a need for longer-term fixed products so this seemed the perfect time to partner with a distribution business which offers well-respected specialist support in the later life sector.”

Air Group CEO, Stuart Wilson, added: “We are delighted to move to the next phase of adviser and member services as we bring an ever-increasing choice to members to support their clients.

“We have run a successful pilot scheme called Air Prestige Packaging, which we are now moving into the operational phase with this product and we expect to announce further products soon. The idea is that these additional options will support members to give their clients more choice than anywhere else.”

Share Story: