Furness BS has released new higher loan to value (LTV) products between 85 and 95 per cent LTV to give intermediaries more choice in an increasingly competitive property market.
The products are available for house purchase, which include new build and remortgages. They come on both two and five-year fixed rate terms.
Decisions in principle and applications for the products from purchasers and remortgagors are welcome and can be submitted through the mutual’s online submission system.
Its two-year fixed rate at 90 per cent LTV is priced at 2.35 per cent, and its five-year fixed rate at the same LTV has a rate of 2.55 per cent.
Its two-year fixed at 95 per cent LTV comes with a rate of 2.69 per cent, whilst its five-year fixed at the same LTV has a rate of 2.85 per cent.
Alasdair McDonald, head of intermediaries at Furness Building Society, said: “We have created these products to provide our intermediary network with more options at a time when the residential property market is extremely competitive. With the number of buyers outweighing properties for sale by as much as 18 to one, we know our brokers need lenders that can work with them to get the right solution for their clients.
“We’re also ideally positioned to help customers requiring a high LTV because we don’t use a scoring system. By considering cases on their individual merit, means we can often make an offer when many other lenders have declined.”
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
