Family BS cuts BTL rates

Published on

Family Building Society has announced a 30 basis point (bps) reduction on its UK Landlords buy-to-let product.

This means that its five-year fixed rate product is now available at 4.59%.

Additional features of the product include the following:

  • Maximum LTV now 65% (previously 60%)
  • Minimum loan now £45,000 (previously £100,000)
  • Maximum loan now £750.000 (previously £600.000)
  • No application or product fee
  • Free valuation up to £500,000 (discounted thereafter)
  • £500 cash back for remortgages

The society has also withdrawn its 60% LTV Limited Company five-year fixed rate product (XF0898).

Darren Deacon, the society’s head of intermediary sales, said: “The launch of this new, enhanced buy-to-let product for UK landlords comes at a time when the rental market is facing many challenges.

“This competitive five-year fixed rate product will be a welcome boost to those landlords looking for financial certainty over the medium term.”

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

Help to Buy benefits skewed towards higher earners, IFS finds

Government-backed Help to Buy schemes delivered modest improvements in housing affordability, with the gains...

Buying still £500 cheaper than renting despite rates above 5%

Mortgage affordability continues to outperform renting despite rates pushing back above 5%, as lenders...

Property auctions post strong March as sales and funds raised climb

Property auction activity gathered pace in March, with both sales volumes and money raised...

Santander cuts higher loan-to-value rates for first-time buyers and movers

Santander is cutting rates across a wide range of higher loan-to-value mortgage products from...

FCA maps out open finance plans with mortgages and SME lending in focus

The Financial Conduct Authority has set out its latest vision for open finance, with...

Latest publication

Other news

Help to Buy benefits skewed towards higher earners, IFS finds

Government-backed Help to Buy schemes delivered modest improvements in housing affordability, with the gains...

Buying still £500 cheaper than renting despite rates above 5%

Mortgage affordability continues to outperform renting despite rates pushing back above 5%, as lenders...

Property auctions post strong March as sales and funds raised climb

Property auction activity gathered pace in March, with both sales volumes and money raised...