Family BS cuts residential and BTL fixed rates

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The Family Building Society has unveiled a new range of reduced price mortgage products.

Two-year owner occupier products for interest only and capital repayment have been reduced by 50bps and five-year products have been reduced by 40bps.

Repayment two-year fixed rates now start from 5.74% and five year from 5.14%.

Meanwhile, interest-only two-year rates now start from 6.39% and 5.79% for five-year deals.

Five-year buy-to-let fixed rates have been reduced by 55bps and now start from 5.59%.

In addition, the buy-to-let range also sees the introduction of a new two-year fixed rate option for UK landlords, Limited Company Special Purpose Vehicles and Expats, with rates now from 6.09%.

Keith Barber, Family BS’s director of business development, said: “These significant reductions across our owner occupier and buy-to-let range will go some way to help older borrowers and landlords struggling with affordability and who need the flexibility and common-sense underwriting for which we are widely known.”

The Society has also announced the withdrawal of all discounted variable rates with the exception of offset, JBSP and expat products.

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