Family Building Society has launched a new range of residential and buy-to-let products with lower rates, alongside the introduction of two-year interest-only products for loans over £500,000 and up to £4,000,000, available on a semi-exclusive basis.
Two-year fixed rate residential interest-only products have reduced by 10bps and five-year fixed rate have reduced by 5bps.
In addition, the Society’s two-year JBSP produced has seen a reduction of 25bps.
Two-year fixed rate residential repayment products have reduced by 20bps and five-year fixed rate have reduced by 5bps.
The Society’s buy-to-let range has also seen a series of reductions. Two-year fixed rates have reduced by 15bps and five-year fixes by 5bps.
In addition, the Society has also reduced its two and five-year limited company rates by 15bps. For limited company landlords, the Society has also introduced new five-year fixed rate buy-to-let mortgage products with a 3.00% product fee, available for purchase and remortgage applications only.
Darren Deacon (pictured), head of intermediary sales at Family Building Society, commented: “The introduction of these lower priced products maintains our position of delivering competitive rates combined with the unique flexibility we can provide through our manual underwriting philosophy. I am sure our intermediary partners will also welcome the reduced buy-to-let rates which not only benefit UK landlords but expats too.
“In response to intermediary feedback I am also pleased that we've introduced new owner occupier two-year fixed rate high-loan variants for mortgages over £500,000, available via our packaging partners, providing even greater flexibility for borrowers requiring larger loans."
