Furness launches new residential, buy-to-let and holiday let products

The new residential products start with a 1.29% two-year discount for cases up to 80% LTV with a £999 fee.

At 95% LTV, there is a two-year discount option at 2.49%, a two-year fixed rate at 3.29%, and a five-year fix at 3.49%, all fee-free.

As well as being available for employed clients, Furness will accept cases with a more complex income including for those who are self-employed and will look at pre-tax profits when assessing affordability.

For landlords, the Furness offers a range of unregulated, regulated, consumer and holiday let options up to 80% LTV. Its lowest buy-to-let product rate is a two-year discount with a pay rate of 1.59% at 65% LTV with a £995 fee.

All buy-to-let applications will be assessed based on an applicant’s overall financial situation - not by simply using an ICR calculation. Earned income together with mortgage and other credit commitments will be reviewed personally by an underwriter.

All products in the new range include £250 cashback and a free standard valuation package for both purchases and remortgages.

Alasdair McDonald, head of intermediaries at the Furness, said: “We’re delighted to launch this new range of products to brokers across England, Scotland and Wales. With a range of products with low pay rates and our flexible approach to lending, we are confident we can help you find the solution to your next case whether it be for a residential, buy-to-let or even holiday let property."