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

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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.”

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