Family BS cuts residential and buy-to-let rates by up to 0.30%

Family Building Society has launched a new range of reduced-price fixed rate residential mortgage products, with rates reduced by up to 0.30%.

The Society has also reintroduced 60% LTV price tier products across its residential product set. 

In addition, two and five-year fixed rate buy-to-let rates have been reduced by 25bps and 15bps, respectively.

Family Building Society has also reduced fixed rates for existing customers for product switches and further advance purposes. Residential two-year capital and interest products, as well as core two and five-year interest-only products have been reduced. Buy-to-let products have also been reduced by up to 25bps.

Darren Deacon, head of intermediary sales at Family Building Society, commented: “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 partners 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.”