Family Building Society has cut rates on selected residential mortgage deals by up to 10 basis points, but others have increased by 15 bps.

The lender’s two-year fixed rate interest-only deals for owner occupiers have come down by 5 bps and repayment deals by 10 bps.

However, five-year fixed rates on a repayment basis have increased by 15 bps.

It has launched two and five-year fixed rates for owner occupiers that are available on an interest-only basis at 80% loan-to-value, up to a maximum of £500,000.

The new two-year deal in this range is priced at 5.74% with a £175 application fee and £999 product fee and the five-year version is 5.59% with the same fees.

In its buy-to-let range, Family has lowered two-year fixed rates by 10 bps but five-year rates have been held.

For Joint Borrower Sole Proprietor cases, Family has increased its maximum loan size to £1m.

In addition, buy-to-let products for houses in multiple occupation are now open to all brokers.

Head of intermediary sales Darren Deacon says: “We are always looking to build on our reputation as a lender that listens to brokers and offers sensible and flexible solutions for their customers.

“That’s why we have increased our maximum loan size for our range of JBSP products which, given the family help that is often required by first time buyers and growing families making the next step on the property ladder, will be particularly welcome.

“In addition, by making our HMO products available to all intermediaries, many more UK landlords will be able take advantage of this specialised lending option.”