This will apply across the mutual’s core owner-occupier and buy-to-let (BTL) products. The minimum property value for a Family Building Society retirement interest-only (RIO) mortgage has been reduced to £90,000.
Further, the mutual has lowered the minimum loan available across its Family Mortgage from £96,000 to £60,000. The product was launched earlier this year and allows first-time buyers and homemovers to borrow up 100% loan to value (LTV), using their family members’ savings or security to boost affordability.
Darren Deacon, head of intermediary sales at Family Building Society, said: “These significant reductions is in response to feedback from our intermediary partners who need more options for individual borrowers, first-time buyers and portfolio landlords purchasing lower-value properties.
“This move, alongside our individual approach to underwriting, will be particularly welcome for those purchasing in areas where typical property prices can fall below £120,000.”
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Market Harborough BS refreshes holiday let rate
Market Harborough Building Society has reduced rates across its holiday let range and increased the maximum loan size to £3m.
Pricing has been cut by up to 0.6% across its holiday let offering, including options for high-net-worth (HNW) borrowers.
Tier 1 and tier 2 rates have been lowered by 0.5%, and tier 3 rates by 0.6%. Rates now start at 6.44% for a fixed holiday let tier 1 case with a £995 fee, or 5.7% for a discounted rate.
Further, Market Harborough Building Society will now accept more scenarios on its lower-priced tier 2 products, including allowing two letting units on one title.
Iain Smith, Market Harborough Building Society’s head of mortgage distribution, said: “We’re always listening to broker feedback and have built real momentum in 2026 with a series of changes designed to make our mortgage solutions up to £5m even more accessible.
“Today’s enhancements to our holiday let range are another example of that – reducing rates further, increasing choice with a higher maximum loan size and adjusting our criteria, all to make it even easier to say yes to complex cases. It’s part of our commitment to being an easy, supportive and solutions-focused partner for our brokers and their clients.”
