Family BS cuts buy-to-let rates by 0.30%

Family Building Society has reduced rates across its buy-to-let mortgages by 30bps.

The Society has also introduced a new five-year fixed rate buy-to-let product at 4.59%. The product is available up to 65% LTV with no application or product fees, a free valuation up to £500,000 and £500 cashback for remortgages.

The product also benefits from Family Building Society's new minimum and maximum loan sizes. The minimum loan is now £45,000, down from £100,000, while the maximum loan has increased from £600,000 to £700,000.

As part of the changes, Family Building Society has announced the withdrawal of its 60% LTV limited company five-year fixed rate product.

Darren Deacon, head of intermediary sales at Family Building Society, commented: “The launch of this new, enhanced buy-to-let product for UK landlords comes at a time when the rental market is facing many challenges. This competitive five-year fixed rate product will be a welcome boost to those landlords looking for financial certainty over the medium term.”