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Barclays, Foundation, Saffron and Furness update product ranges – roundup

  • 06/12/2018
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Barclays, Foundation, Saffron and Furness update product ranges – roundup
Barclays , Foundation Home Loans, Saffron Building Society and Furness for Intermediaries have updated their product ranges.


Foundation Home Loans has enhanced its buy to let and residential ranges, cutting the minimum loan on its large loans buy-to-let product to £500,000.

It has also introduced five-year rates across its residential range, with rates from 3.49%.

New build flats are now accepted up to 70% loan to value (LTV).

Andrew Ferguson, commercial director at Foundation Home Loans, said: “In a competitive market, we cannot stand still and are continually finding ways to make our products appealing and accessible to more clients.”

Barclays cuts rates by up to 0.20%

Barclays will be changing its residential fixed rates with new products launching on 7 December.

Within the purchase and remortgage range, the two-year fixed rate product has been cut by 0.15% from 1.89% to 1.74%, while the ten-year fixed rate has been reduced to 2.55% from 2.64%.

Within the purchase-only range, the two-year fixed rate has been cut by 0.20% to 3.55% from 3.75%.

The homemover reward three-year fix has been reduced by 0.10% from 1.88% to 1.78%.


Saffron BS launches reduced mortgages for FTBs

Saffron BS has launched two reduced rate mortgages for first-time buyers.

The three-year fixed rate mortgage starts from 3.07%, while the five-year fixed rate is at 3.37%.

Both rates are at 95% LTV and with no arrangement fee.

The loan goes from a minimum of £30,000 to a maximum of £500,000.

Anita Arch, Saffron Building Society’s head of mortgage sales, said: “Home ownership in the current generation is much lower than the generation before – we want to help more people to take that initial step and get on to the property ladder.”


Furness for Intermediaries

Furness for Intermediaries reduced rates on its fixed rate mortgage range which is available across England, Scotland and Wales.

The new fixed rates include a two-year product at 2.69% with 90% LTV and a three-year product at 2.43% with 80% LTV.

The new range also includes two five-year products at 2.73% and 2.99%, with 80% and 90% LTV respectively. All the products carry a £1,250 product fee.

The fixed rate range is available for house purchase and re-mortgage.

The applications will be accepted for mainstream residential cases including clients who are self-employed, looking for a mortgage on a joint applicant sole proprietorship basis or even wanting to take the mortgage into their retirement.

Furness’ residential fixed rate range starts from 2.23% at 80% LTV for two years.

However, the range also includes fixed rates over three and five years up to 95% LTV. Cashbacks are also available at 95% LTV.


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