Family BS launches fee-free mortgage range and enhances JBSP criteria

Family Building Society has launched a new-fee free mortgage product range and increased the maximum LTV on its joint borrower sole proprietor (JBSP) range to 90%.

The Society has introduced the new range across its residential interest-only and expat buy-to-let product ranges.

In addition, five-year fixed rate residential repayment and interest-only products have reduced by 10bps and two-year fixed rate interest-only products have reduced by 15bps. 

A reduction of 20bps has also been made to the Society’s expat buy-to-let five-year fixed rate. 

Further enhancing its range of JBSP products, Family BS has launched new two and five-year products up to 90% LTV for loans up to £500,000. 

It has also announced that, for a limited time, there will be no application or product fees across its repayment JBSP product range.

Darren Deacon (pictured), head of intermediary sales at Family Building Society, commented: “The introduction of these lower priced and fee free products will give a real boost to borrowers and intermediaries alike in the face of a potentially challenging market as it absorbs the reintroduction of the lower stamp duty thresholds and the ongoing economic uncertainty. 

“Similarly, the increase to 90% LTV in our new two and five-year JBSP products will provide families an even greater choice as they seek to help first-time buyers and second steppers in their quest for home ownership.

“I am also sure intermediaries will welcome the significant reduction in our expat buy-to-let five-year rates which will enable them to help even more of their buy-to-let clients.”