Family boosts buy-to-let borrowing by up to 35%

Published on

Family Building Society has enhanced its buy-to-let affordability assessment, increasing potential borrowing by up to 35%.

Based on a typical 2-year pay rate, the changes are expected to deliver around a 15% uplift in borrowing power for capital raising applications and up to 35% on pound-for-pound remortgage cases.

The lender has also launched a new interest-only expat buy-to-let two-year fixed product at 75% LTV, priced at 4.69% with a 2% product fee, available for both purchase and remortgage.

AFFORDABILITY BOOST
Darren Deacon, Family Building Society
Darren Deacon, Family Building Society

Darren Deacon, head of intermediary sales at Family Building Society, said: “This significant improvement in our affordability assessment calculations, alongside the launch of our new 2-year expat buy to let product is proof of our continual support to landlords both here and abroad.

“Providing more borrowing power to landlords as they continue to face cost pressures in an uncertain market, is exactly what the market and intermediaries need right now.”

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Foundation raises income multiples for higher-earning mortgage borrowers

Foundation Home Loans has increased the amount higher-earning residential borrowers can access under changes...

Wealthy Advisers Club funds £997 wellbeing retreat place to MIMHC

The Wealthy Advisers Club has donated a fully funded place at its inaugural Digital...

Access FS mortgage business rises 46.8% in record July

Access Financial Services recorded its strongest month for mortgage business in July, with activity...

LiveMore launches mortgage podcast for brokers and advisers

LiveMore has launched a podcast series covering developments in the specialist and later-life lending...

Mortgage myths deter would-be first-time buyers

Misconceptions about mortgage eligibility may be prompting aspiring first-time buyers to abandon their plans...

Latest publication

Other news

Let’s not get bogged down in the macro, let’s focus on the ones and twos

In challenging times such as this, it often feels like the first instinct for...

Foundation raises income multiples for higher-earning mortgage borrowers

Foundation Home Loans has increased the amount higher-earning residential borrowers can access under changes...

Wealthy Advisers Club funds £997 wellbeing retreat place to MIMHC

The Wealthy Advisers Club has donated a fully funded place at its inaugural Digital...