Furness reduces residential and buy-to-let rates

Furness has reduced rates on the majority of its residential and buy-to-let product range.

The new range of residential products includes a 5.24% two-year fixed rate for cases up to 75% LTV, and a 5.34% two-year fix at 80% LTV. For clients looking for a longer term product there is a five-year fixed rate product at 5.49% for cases up to 90% LTV.

The Society can offer mortgages on a Joint Borrower Sole Proprietor basis where one of the joint borrowers is not going to be a co-owner, and all products in this range come with £250 cashback.

As well as being available for standard employed clients, Furness will look at cases with a more complex income including for self-employed clients.

In its buy-to-let range, Furness offers unregulated, regulated and consumer let products up to 80% LTV. There are two and five-options available with rates starting from 5.34%.

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

Alasdair McDonald, head of intermediaries at Furness, said: “We're delighted to launch our new range of products to brokers across England, Scotland, and Wales. With our individual approach to underwriting, we can cater for the straightforward cases as well as those that need a closer look and a personal touch.”