The lender said that on average, this could typically lead to a 15% improvement in borrowing for capital raising applications and a 35% improvement on pound-for-pound remortgage cases.
Family Building Society has also added an interest-only expat BTL two-year fixed rate at 75% loan to value (LTV), available for purchase and remortgage at 4.69% plus a 2% product fee.
Earlier this week, Family Building Society launched a 100% LTV mortgage for first-time buyers and homemovers.
Darren Deacon, head of intermediary sales at Family Building Society, commented: “This significant improvement in our affordability assessment calculations, alongside the launch of our new two-year expat BTL product, is proof of our continued support to landlords both here and abroad.
“We are providing more borrowing power to landlords as they continue to face cost pressures in an uncertain market, [which] is exactly what the market and intermediaries need right now.”
The changing role of the Bank of Mum and Dad
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