Family BS re-enters mortgage market with limited range

Family Building Society has re-entered the mortgage market with a limited range of fixed rate products.

From today, the Society will launch a new condensed range of fixed rate residential and buy-to-let products.

In its residential range, a two-year product is available at 5.09% up to 80% LTV with a £999 fee. A two-year JBSP product has launched at 5.24% up to 90% LTV with a £599 fee, and a five-year Family mortgage at 100% LTV is available at 5.59% fee-free.

The Society will also offer interest-only products including a 5.69% two-year core rate at 80% LTV and a 5.94% five-year RIO product at 50% LTV, both with a £999 fee.

In its buy-to-let range, a two-year UK landlord product is available at 5.54% with a £999 fee. Two-year limited company products start from 5.54% with a 1% fee (minimum £1,000) or 5.09% with a 2% fee (minimum £1,500). Two-year expat products are also available from 5.59% with a 1% fee and 5.09% with a 2% fee. All products are available up to 75% LTV.

In addition, Family Building Society has launched a trio of two-year HMO products, starting from 5.74%.

Discounted variable rate products for expat, JBSP and core ranges remain available, with rates unchanged.

Darren Deacon (pictured), head of intermediary sales, commented: “Like many lenders we have seen the significant rises in swap rates over the course of the last week wreak havoc with mortgage pricing. However, the introduction of this limited range will at least give some choice to intermediaries trying to find a suitable mortgage for those in the midst of moving home or remortgaging. Obviously, it is a changing picture by the day, but we aim to return with our full range of fixed rates as soon as possible.”