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Family BS changes select rates by up to 0.3 per cent

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  • 20/04/2023
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Family BS changes select rates by up to 0.3 per cent
Family Building Society has tweaked rates for owner-occupier, interest-only, buy-to-let and expat deals by up to 0.3 per cent.

Owner occupier fixed rates have been cut, which includes all its repayment five-year fixed rates, which have fallen by 0.2 per cent.

Its core range of five-year fixed rates starts from 4.99 per cent and its joint mortgage sole owner (JMSO) five-year fixed rates begin from 5.09 per cent.

Its two-year fixed rates have been withdrawn without replacement.

Within its interest-only range, its five-year fixed rates at 60 per cent loan to value (LTV) have been reduced by 0.1 per cent.

Retirement interest-only was cut by 0.1 per cent and core five-year fixed rates are priced from 5.54 per cent.

The lender’s owner-occupier discount interest-only rates have increased by around 0.3 per cent.

Its core and JMSO products at 60 per cent LTV have risen by 0.2 per cent, whilst its deals at 80 per cent have gone up by around 0.3 per cent.

Expat products at 80 per cent LTV have increased by 0.1 per cent.

On the buy-to-let side, rates have decreased by around 0.3 per cent. Five-year fixed rates for UK landlords have fallen by around 0.2 per cent and start from 5.84 per cent with a £999 fee.

Five-year fixed rates for limited company and special purpose vehicle (SPV) have fallen by around 0.3 per cent and start from 5.74 per cent with a two per cent product fee.

On the expat side, two-year discount rates have been reduced by 0.25 per cent, and are priced from 5.99 per cent.

Keith Barber (pictured), director of business development at Family Building Society, said: “This new set of mortgage products reflects the relative stability we now see across the mortgage market.

“These rate reductions will be especially welcomed by intermediaries looking to help underserved borrowers who may be coming to the end of their existing fixed term loans and looking to fix their repayments for the foreseeable future.”

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