Family BS reduces residential rates and enhances buy-to-let offering

Family Building Society has announced rate reductions across its residential mortgage range and introduced enhanced and reduced rate buy-to-let products.

Rates across the Society’s residential repayment product range have reduced by up to 15bps and interest-only rates have decreased by 10bps.

In addition, Family Building Society has simplified its buy-to-let range by removing the 60% LTV tier, with the entire product range now available up to a maximum of 75% LTV.

Further enhancements to the buy-to-let range include reductions of 10bps to two and five-year fixed rates for UK landlords, limited company and expat buy-to-let, and a fee-free product range for existing borrower product switches and further advances.

There are no changes to changes to the HMO and expat limited company range.

Darren Deacon, head of intermediary sales, commented: “It is clear that purchasers and those looking to remortgage may be delaying decisions until after the Autumn Statement and the potential tax raising measures that are likely to be announced. 

"Therefore, these price reductions will be welcomed by many on the cusp of a purchase or remortgage and in particular by UK and expat landlords looking to secure certainty that a two or five-year fixed term in an uncertain economic outlook.”