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Furness BS brings out high LTV products

  • 19/01/2022
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Furness BS brings out high LTV products
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.”

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