The Family Building Society has announced a new fixed rate mortgage product range with price increases.
These are summarised below:
| Owner Occupier Repayment | Owner Occupier Interest Only | Buy to Let |
| – All 5 year fixed rates increased by 10 bps | – All 5 year fixed rates increased by 15bps | – Expat 5 year fixed rates increased by 30bps |
| – All 2 and 3 year fixed rates increased by 20bps | – All 2 and 3 year fixed rates increased by 20bps | – UK Landlord 3 and 5 year fixed rates increased by 15bps |
| – SPV/Limited Company 3 and 5 year fixed rates increased by 25bps |
The completion deadline for these new fixed rate products will be 3 October 2022.
In addition, the Society has announced significant increases in maximum loan sizes.
The new maximum loan sizes are as follows:
| Owner Occupier LTV |
Maximum loan size |
| 80% | £45,000 – £750,000 |
| 75% | £750,001 – £1,000,000 |
| 70% | £1,000,001 – £1,500,000 |
| 65% | £1,500,001 – £2,000,000 |
| 50% | £2,000,001 – £3,000,000 |
| 40% | £3,000,001 + |
| Buy to Let LTV | Maximum loan size |
| 70% | £45,000 to £1,000,000 |
| 65% | £1,000,001 – £1,500,000 |
| 60% | £1,500,001 – £2,000,000 |
| 50% | £2,000,001 – £3,000,000 |
| 40% | £3,000,001 + |
Keith Barber, director of business development, said: “Reflecting house price increases, these significant maximum loan increases will go some way to helping under-served and older borrowers finding it difficult to remortgage as well as those looking to make the next step on the housing ladder.”