Family Building Society has reduced rates across its owner-occupier mortgage range and widened its house in multiple occupation (HMO) criteria.

Rates across the Society’s two-year owner-occupier repayment products have been cut by 10bps, while three and five-year fixed rates have been reduced by 5bps.

Two-year fixed rate interest only products have also seen a 10bps reduction.

Further changes follow a reduction to the Society’s Managed Mortgage Rates, due to take effect from 7 February.

As a result, discounted two and three-year owner-occupier interest-only products will benefit from a 15bps reduction.

Alongside the pricing changes, the lender has enhanced its criteria for houses in multiple occupation, with HMOs now accepted up to six bedrooms.

Darren Deacon, head of intermediary sales at Family Building Society, said: “These rate reductions will be welcomed by intermediaries and borrowers alike in what remains quite an uncertain and competitive market.

For landlords looking for an alternative lender with a flexible and case by case approach, our enhanced HMO criteria will also be welcome news.”