Family Building Society revamps range, cuts rates | Mortgage Strategy

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The Family Building Society has revamped its mortgage range and made cuts to selected products.The mutual says the majority of its products have been withdrawn and replaced, all fixed-rate end dates have been extended, with rate reductions on certain loans.

Highlights of the changes, which come to market today, include:

Core five-year fixed rate repayment products have been reintroduced up to 60% loan to value, starting at 2.99%, a reduction of 0.10%.

Joint Mortgage Sole Owner five-year fixed rate repayment products up to 60% LTV starting at 3.09% and up to 75% LTV starting at 3.34%, down by 0.10%.

Core three-year discount interest-only products up to 60% LTV starting at 2.99%, cut by 0.30%.

And its Family Mortgage for first-time buyers at 95% LTV starting at 3.29% fixed for five years, down by 0.35%.

Family Building Society director of business development Keith Barber says: “Despite the approaching end of the stamp duty holiday, we continue to see strong demand.The reintroduction of our five-year fixed rate product and interest-only reductions provide intermediaries greater choice, particularly for the underserved later life borrower and those looking for additional family assistance through our Joint Mortgage Sole Owner mortgageAnd as house prices continue to rise, we are pleased to be able to give first-time buyers an additional helping hand by reducing our award-winning Family Mortgage product by 0.35% to 3.29%, fixed for five years.“


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