Furness cuts residential and buy-to-let rates

Furness has cut rates across its residential, buy-to-let, and holiday let product ranges.

Residential two-year fixed rates now start at 4.89% for cases up to 80% LTV, 5.10% up to 85% LTV and 5.23% up to 90% LTV. Five-year fixed rates start at 4.69% for cases up to 80% LTV. These products carry a £999 but fee-free options are available at 90% LTV.

For landlords, the Furness offers a range of unregulated and regulated products up to 80% LTV and holiday lets up to 75% LTV. Its lowest rate buy-to-let product is a two-year discount with a pay rate of 4.64% for cases up to 75% LTV and a five-year fixed rate is available at 5.29% for cases up to 75% LTV.

As with all buy-to-let products from Furness, applications will be assessed based on an applicant’s overall financial situation - however, the gross anticipated rent should be at least 125% of the interest charges at the initial pay rate. Earned income together with mortgage and other credit commitments will be reviewed personally by an underwriter.

All residential, buy-to-let and holiday let products come with £250 cashback and are available for cases across England, Scotland and Wales.

Alasdair McDonald, head of intermediaries at Furness, said: “These new price reductions, coupled with our ability to look at cases individually means that we are always looking for a way to say yes. With easy access to our broker hub we’re on hand to talk you through your next case.”