The latest update from Family Building Society can be found here. Remember, we are able to package on a fees free basis for Family Building Society and also offer support to brokers who wish to deal directly via our mortgage club. Further details are available across our website. Full details of product range here.
SEMI EXCLUSIVE PRODUCTS
- 2 year and 5 year fixed rates for interest only residential lending – Remember sale and downsize up to 70% with no minimum equity (must be able to downsize within a 5 miles radius), no minimum income criteria, max age of applicant is 89 at application stage!
- 5 year fixed rates for Expat/UK/Ltd Co landlords, we can stress on the pay rate. Remember no limit to number of properties held in the portfolio or stress testing to background properties.
As promised, we’re back! With a brand new set of fixed rate products and new application and offer validity periods.
New validity periods
You spoke and we listened. A fixed completion deadline will no longer apply to new fixed rate products. Instead, we’ve introduced a 3 month application validity period as well as a 3 month validity period from the date of the mortgage offer. Fixed rate mortgage products launched prior to 5 September will still be subject to their relevant completion deadline, unless we specifically advise that this has been extended.
This means that your clients will have 3 months from the date an application is received in order to secure an offer for one of our on sale mortgage products. Once a fixed rate mortgage product is offered, the mortgage offer will be valid for 3 months.
Our variable rate products will also be subject to the application validity period; however, the offer period remains unaffected and will continue to be 5 months.
We believe this new approach will provide greater flexibility and clarity for you and your clients.
Our brand new product range
As of today, 5 September 2022, we’re launching a brand new fixed rate product range.
Owner Occupier fixed rate products
- 2 year repayment from 4.44%
- 2 year interest-only from 4.64% (semi-exclusive, speak to your BDM to access these rates)
- 5 year repayment from 4.29%
- 5 year interest-only 4.49% (semi-exclusive, speak to your BDM for more information)
- 2 year JMSO repayment from 4.54%
- 5 year JMSO repayment from 4.39%
Specialist mortgages including our Family Mortgage, RIO and Retirement Lifestyle Booster are also available.
Buy to Let fixed rate products
Our new BTL fixed rate range includes products for UK Landlords, Limited Co. BtLs and expats. All fixed rates have increased by 0.75% from the previous range.