Furness cuts buy-to-let rates by up to 0.65%

Furness has reduced rates across its buy-to-let product range by up to 0.65%.

The reductions cover unregulated, regulated, consumer let and holiday let products. There are two and five-year options available up to 80% LTV with rates starting from 5.19%.

As with all buy-to-let products from Furness, applications will be assessed based on an applicant’s overall financial situation, not just by using an ICR calculation. Earned income together with mortgage and other credit commitments will be reviewed personally by an underwriter.

As a further benefit for clients looking for a holiday let, Furness allow the owners up to 90 days of personal use of the property, and will consider both interest-only and repayment mortgages on properties across mainland UK.

There are also reductions on residential products. The new range includes two-year fixed rates starting at 4.85% for cases up to 75% LTV, 4.89% for cases up to 80% LTV, and 5.34% for cases up to 90% LTV.

For clients looking for a longer term, five-year options are also available, with rates starting from 4.66% for cases up to 80% LTV. To help clients who are moving home all products in this new range include £250 cashback.

Alasdair McDonald, head of intermediaries at Furness, said: “We are proud to offer continued support to our intermediary partners, and our competitive products coupled with our flexible approach to underwriting means that we are able to service a wide range of buy-to-let cases. Whether your client is an experienced property investors or first-time landlord, we can help find them ideal buy-to-let mortgage solution.”