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Family BS ups select rates by 0.3 per cent and increases maximum loan sizes

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  • 09/06/2022
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Family BS ups select rates by 0.3 per cent and increases maximum loan sizes
Family Building Society has increased owner occupier repayment, owner interest-only and buy-to-let pricing by as much as 0.3 per cent.

On the owner occupier repayment side, all of its five-year fixed rates have been increased by 0.1 per cent. All of its two and three-year fixed rates in this range have been upped by 0.2 per cent.

The lender said its five year-fixed rates in its owner occupier interest-only range have gone up by 0.15 per cent, whilst all its two and three-year fixed rates have risen by 0.2 per cent.

On the buy-to-let side, its expat five-year fixed rates have gone up by 0.3 per cent, whilst its three and five-year fixed rates for UK landlords have risen by 0.15 per cent.

Three and five-year fixed rates for special purpose vehicles and limited companies have been increased by 0.25 per cent.

The mutual has also increased maximum loan sizes in its owner occupier and buy-to-let ranges.

In its owner occupier range the maximum loan size at 80 per cent loan to value is £750,000, and at 75 per cent LTV it is £1m.

At 70 per cent LTV the maximum loan size is set at £1.5m and at 65 per cent LTV it is £2m and at 50 per cent LTV it is £3m. For loans at 40 per cent LTV the maximum loan size is £3m plus.

In its buy-to-let range, the maximum loan size for 70 per cent LTV is £1m, £1.5m at the 65 per cent LTV tier and £2m at the 60 per cent LTV tier.

At 50 per cent LTV the maximum loan size is £3m and for 40 per cent LTV it is over £3m.

Keith Barber (pictured), director of business development for Family Building Society, said: “Reflecting house price increases, these significant maximum loan increases will go some way to helping under-served and older borrowers finding it difficult to remortgage as well as those looking to make the next step on the housing ladder.”

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