Family Building Society has launched a new range of Bank of England tracker mortgages as part of a refresh of its owner occupier and buy-to-let product range.
The lender has introduced 2-year interest-only tracker products for owner occupiers, UK landlords, expat landlords and borrowers purchasing through limited company special purpose vehicles.
Alongside the new tracker range, Family Building Society has reintroduced its 5-year fixed-rate HMO products after withdrawing them in March and reduced selected fixed rates across its buy-to-let range.
The changes include a 30 basis point reduction to selected 2-year fixed-rate mortgages and a 10 basis point cut to five-year UK landlord products.
GREATER FLEXIBILITY
Darren Deacon (main picture, inset), head of intermediary sales at Family Building Society, said: “The UK housing market is facing a period of uncertainty, with confidence among homebuyers and those looking to remortgage affected by events at home and overseas.
“Brokers have told us that enquiries for tracker products are on the increase. Our new BoE tracker rates give borrowers seeking an interest-only option greater flexibility while they wait for more stable economic and political conditions before committing to a longer-term fixed rate.”
The Society said the latest changes are designed to provide brokers with greater flexibility for borrowers looking to navigate an uncertain interest rate environment, while expanding options for both residential and buy-to-let customers.
