Family BS launches new interest-only and buy-to-let mortgage products

Family Building Society has launched a new range of residential interest-only and buy-to-let products. 

Two-year fixed rate owner occupier interest-only products have reduced by 5bps and two-year fixed rate repayment rates are down by 10bps. 

In addition, two new two and five-year 80% LTV residential interest-only products with no maximum loan size have also been launched.

Two-year fixed rate buy-to-let products have been reduced by 10bps. Five-year fixed rate residential repayment rates have increased by 15bps although five-year buy-to-let product rates have been held.

Enhancing its range of joint borrow sole proprietor (JBSP) products, Family Building Society has increased its maximum loan size to £1,000,000.

Further enhancements to the product range include widening the availability of its HMO products to all brokers which was previously only available on a ‘semi-exclusive’ basis.

Darren Deacon, head of intermediary sales at Family Building Society, commented: “We are always looking to build on our reputation as a lender that listens to brokers and offers sensible and flexible solutions for their customers. That’s why we have increased our maximum loan size for our range of JBSP products which, given the family help that is often required by first-time buyers and growing families making the next step on the property ladder, will be particularly welcome.

"In addition, by making our HMO products available to all intermediaries, many more UK landlords will be able take advantage of this specialised lending option."