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.
WITHDRAWAL OF CORE RATES AND 2 YR FIXED SEMI EXCLUSIVE RATES
In recent days, following the Bank Rate increase, swap rate costs have continued to climb in the anticipation of further interest rate increases. As such, a number of our fixed rate mortgage products have been subject to a margin squeeze and hence need to be withdrawn ASAP.
Please note the semi exclusive owner occupier 2 year fixed interest only deal is part of this removal.
TIMINGS:
- The products below will be removed from the website (and sourcing systems, where possible) from 2pm today
- We will be providing a window for any final applications to be received. This is as follows:
- Mortgage Hub applications – DEADLINE 5pm FRIDAY 18 FEBRUARY
- Paper applications – DEADLINE 5pm MONDAY 21 FEBRUARY
Code | Rate Length | Borrower Type | Product Category | Current Availability |
XF0437 | 2 Year Fixed | OO Repayment | Core | Purch, Remo, Switch, F/A |
XF0438 | 2 Year Fixed | OO Repayment | Core | Purch, Remo, Switch, F/A |
XF0439 | 2 Year Fixed | OO Repayment | JMSO | Purch, Remo, Switch, F/A |
XF0440 | 2 Year Fixed | OO Repayment | JMSO | Purch, Remo, Switch, F/A |
XF0450 | 2 Year Fixed | OO Interest Only | Core (S/Exc) | Purch, Remo |
XF0451 | 2 Year Fixed | OO Interest Only | Core (S/Exc) | Purch, Remo |
XF0458 | 3 Year Fixed | BTL | UK Landlord | Purch, Remo, Switch, F/A |
XF0459 | 3 Year Fixed | BTL | UK Landlord | Purch, Remo, Switch, F/A |
Important information: withdrawal of our fixed rate mortgage products
We’re withdrawing some of our fixed rate mortgages from our mortgage product range for both Owner Occupiers and Buy to Let. This will impact New Business only.
These changes will take effect from today, 16 February 2022 and are summarised as follows:
Products to be withdrawn for New Business only:
Owner Occupier repayment:
- 2 Year Fixed (Core) (60% & 80% LTVs)
- 2 year Fixed Joint Mortgage Sole Owner (JMSO) (60% & 80% LTVs)
Buy to Let:
- 3 Year Fixed (UK Landlord) (60% & 70% LTVs)
Semi Exclusive Owner Occupier Interest-Only – only available to select intermediaries & packager partners:
- 2 Year Fixed (Core) (60% & 80% LTVs)
See full details of our product range here.
The deadline for receipt of applications for all withdrawn mortgage products is:
- 5pm on Friday 18 February, through our Mortgage Hub and
- 5pm on Monday 21 February by paper
Where applicable, the above products remain available for existing borrower product switches and further advances, if they were available for these purposes prior to this change.