The Family Building Society has cut rates on its mortgage product range for new business.

The lender says cuts to its owner-occupier repayment range cover:

• Reductions to 60% loan-to-value products of between 15 basis points and 35bps
• Reductions to 80% LTV products of between 30bps and 50bps
• Its joint mortgage sole owner product fees are down to £599 from £999
• Its family mortgage rate is reduced by 45bps to 2.84%

The firm says cuts to its owner-occupier interest-only range cover:

• Reductions to the core range, including retirement interest-only of between 25bps and 50bps
• Expat range cut by between 57bps and 67bps
• JMSO product fees reduced to £599 from £999

The mutual adds cuts and changes to its buy-to-let range cover:

• Reductions to UK landlord products of between 20bps and 45bps
• Reductions on expat products of between 20bps and 65bps 
• Limited company maximum LTV increased from 70% from 65%

Family Building Society director of business development Keith Barber says: “These rate reductions offer a significant opportunity for intermediaries looking for attractive solutions for later life borrowers who are often underserved by the mainstream lenders. 

“Our revised UK landlord and expat buy to let products will equally be welcomed, as will the reductions to our family assistance range for those who have family able to help those just starting out on their home-owning journey.”