Family BS cuts BTL rates

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The society has also withdrawn its 60% LTV Limited Company five-year fixed rate product (XF0898).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

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