Family Building Society has announced rate reductions across its owner-occupier and buy-to-let mortgage products, alongside a simplified range for landlords.
From today (6 November), the lender has reduced rates on its owner-occupier repayment products by up to 15 basis points and cut interest-only products by 10 basis points.
In the buy-to-let range, the Society has removed the 60% loan-to-value tier, meaning all products are now available up to a maximum of 75% LTV.
It has also reduced rates on its two- and five-year fixed products for UK landlords, limited companies and expat borrowers by 10 basis points.
Existing borrowers will benefit from a new fee-free range for product switches and further advances. However, there are no changes to the HMO or expat limited company ranges, while managed mortgage rates and discounted variable rates remain unchanged.
Darren Deacon, head of intermediary sales at Family Building Society, said: “It is clear that purchasers and those looking to remortgage may be delaying decisions until after the Autumn Statement and the potential tax raising measures that are likely to be announced.
“Therefore, these price reductions will be welcomed by many on the cusp of a purchase or remortgage and in particular by UK and expat landlords looking to secure certainty with a two- or five-year fixed term in an uncertain economic outlook.”
