Family Building Society has reintroduced 60% loan-to-value products across its core owner-occupier range and reduced selected fixed rates by as much as 30 basis points.
The mutual said the changes, announced on 16 April, also include lower pricing across its two-year and five-year fixed buy-to-let products, with rates reduced by 25 basis points and 15 basis points respectively.
It has also cut fixed rates for existing borrowers seeking product switches or further advances. The reductions apply to owner-occupier two-year capital and interest products, alongside core two-year and five-year interest-only deals. Buy-to-let products for existing customers have also been reduced by up to 25 basis points.
The return of the 60% LTV tier marks an expansion of the lender’s lower-LTV offering at a time when lenders are continuing to adjust pricing in response to market movements.
Darren Deacon, head of intermediary sales at Family Building Society, said: “Although it’s anybody’s guess how long the fragile cease fire will last, the relative stability in the Gulf has been reflected in market sentiment allowing us to be able to make these rate reductions and to reintroduce pricing for lower LTVs.
“We completely understand the frustration that our intermediary parters are experiencing right now, but I’m hopeful that this new expanded and reduced rate product set will provide some welcome good news to borrowers and those looking to remortgage.”
The latest repricing suggests the lender is seeking to improve its appeal both for new business and for existing customers reviewing their borrowing options.
