Family BS reduces interest-only and buy-to-let rates

Family Building Society has reduced rates across its owner-occupier interest-only and buy-to-let products.

All interest-only rates have reduced by 15bps, with five-year fixed rates now starting from 5.54% and two-year fixes from 6.14%.

Limited company buy-to-let rates have reduced by 20bps, with five-year fixes now from 5.34% and two-year fixes from 5.84%.

In addition, expat buy-to-let rates are down by 10bps, with a two-year fix now available at 5.99%.

The Society has also reintroduced both a 60% and 80% LTV three-year interest-only residential discounted variable rate product available for purchase, remortgage, further advance and product switch.

Darren Deacon, head of intermediary sales, commented: “These reductions will be welcome news for our intermediary partners who have clients seeking the stability of a fixed interest-only product. Likewise, landlords will now benefit from a choice of significantly reduced limited company products as well as additional reductions for expat landlords, which further demonstrates our commitment to the buy-to-let market.”