Furness Building Society has cut fixed-rate home loans across its residential and landlord ranges by up to 35 basis points.
Highlights of the mutual’s residential reductions include:
- Two-year fixes at 5.99% at 95% LTV, down from 6.14%
- Two-year fixes at 5.89% for up to 95% LTV, down from 6.14% (purchase only)
- Five-year fixes at 4.54% at 80% LTV, down from 4.74%
- Five-year fixes at 5.29% at 95% LTV, down from 5.64%
Selected residential products come with a £999 fee, which can either be paid upfront or added to the loan, while other loans include a £250 cashback offer.
The lender adds that all buy-to-let products have been reduced by 20bps.
Its landlord range covers unregulated, regulated, and consumer BTL products up to 80% LTV, as well as holiday let deals up to 75% LTV.
Anticipated gross rent should cover at least 125% of the interest charges at the initial pay rate.
The firm’s most competitive BTL option is a two-year fixed at 4.69% for cases up to 65% LTV.
Furness Building Society head of member & broker strategy Jonathan Cartlidge says: “While maintaining our competitive edge, it’s important to highlight that we do not use credit scoring.
“Instead, each case is carefully reviewed by an experienced underwriter, enabling us to handle complex cases with a flexible and personalised approach.”
