Family Building Society has reduced rates on its mortgage product range for new business.
The mutual has cut owner-occupier rates for repayment and interest-only as well as buy-to-let.
The changes are as follows:
Owner Occupier Repayment:
- Reductions to 60% LTV products of 0.15-0.35 percentage points
- Reductions to 80% LTV products of between 0.30-0.50 percentage points.
- Joint Mortgage Sole Owner product fees reduced from £999 to £599.
- Award winning Family Mortgage reduced by 0.45-2.84 percentage points.
Owner Occupier Interest Only:
- Reductions to core range including Retirement Interest Only of between 0.25-0.50 percentage points
- Expat range reduced between 0.57-0.67 percentage points
- JMSO product fees reduced from £999 to £599.
Buy-to-let:
- Reductions to UK landlord products of between 0.20-0.45 percentage points
- Reductions to Expat products of between 0.20-0.65 percentage points
- Limited Company maximum LTV increased from 65% to 70%
Keith Barber, director of business development, said: “These rate reductions offer a significant opportunity for intermediaries looking for attractive solutions for later life borrowers who are often underserved by the mainstream lenders.
“Our revised UK landlord and expat buy to let products will equally be welcomed, as will the reductions to our Family Assistance range for those who have family able to help those just starting out on their home owning journey.”