Brilliant Solutions

Family BS Product Update

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.  

Family Building Society Announcement:

Important information on our mortgage products – new application deadline

On Wednesday 27 January 2021 we’ll be withdrawing and replacing our current mortgage products.

We will accept applications for all withdrawn products through our Mortgage Hub, or by paper, up to and including 5pm on Monday 1 February 2021. This means that any paper applications will need to be fully completed and sent to us ahead of this deadline in order to be received in time.

We will be refreshing our Owner Occupier product range, with a small increase to rates, and introducing specific Joint Mortgage Sole Owner products. We are also repricing some of our Buy to Let rates and introducing new Buy to Let Limited Company products. Completion deadlines for fixed rate products will be extended.

Full details of the new product range will be announced on 27 January 2021.

We have a team of BDMs ready, willing and able to answer any of your queries and guide you through the application process. If you don’t have a BDM in your area, you can contact our dedicated Mortgage Desk.

January 2021 mortgage product refresh – approved semi exclusive sheets

We have reviewed our current product range and made a few adjustments to the broker direct rates plus the semi exclusive deals that you currently have access to. We have seen a large increase in owner occupier and BTL business producing a record pipeline for the Society. The rates have been tweaked to reflect this and to help us provide effective service levels. Please find above the semi exclusive rate sheet flyer showing the new semi exclusive rates.

Highlights include for our semi exclusive products:

  • Expat BTL rates remain unchanged with 5 year fixed rates starting at 3.69% with 1% arrangement fee.
  • UK BTL rates remain unchanged with 5 year fixed rates starting at 3.24% with a flat £999 fee.
  • New product *** BTL Ltd Co with 5 year fixed rates starting at 3.39% with a flat £999 fee – we have also removed the minimum £100,000 loan size.

We have increased the owner occupier interest only products by 0.05% for the 2 year fixed and by 0.1% for the 5 year fixed.

Other major changes to note:

We will now no longer offer free in house legal services and instead offer a £500 cashback for all owner occupier re-mortgages which can be put towards the legal costs (we will continue to process existing cases with our in house legal team)

Completion deadline for the new fixed rate products is 1/7/2021

A reminder – Full applications will be accepted on the existing products up until 5pm Monday 1 February by either paper or via the Mortgage Hub. These new products will go live from 12pm today

Exclusive Products_CVF247 – FINAL

 

Launch of our mortgage products and application deadline

We’ve made some changes to our mortgage product range with effect from today, 27 January 2021: 

  • The majority of our mortgage products have been withdrawn and replaced. 
  • Interest rates for our Buy to Let products remain unchanged, with the exception of our Expat products.
  • We’ve launched a new range of Joint Mortgage Sole Owner (JMSO) products for Owner Occupiers.
  • Our Buy to Let Limited Company products now have separate product codes and a fixed product fee.
  • We now offer £500 cashback for all Owner Occupier remortgage applications, which can be put towards legal costs. We will no longer offer our in-house Legal Services department for remortgage applications, but they will continue to work on any applications in the pipeline.
  • We continue to offer £250 cashback for Family Mortgage applications, and £100 cashback for Offset applications.
  • We have updated our Intermediary website to make it easy for you to find products based on your clients’ needs. We’ve also added all our product switch and further advance products to the site.
  • Completion deadline for new fixed rate products is 01/07/2021.

See full details of our product range here.

A reminder – the deadline for receipt of applications for all withdrawn mortgage products is 5pm on Monday 1 February, both through our Mortgage Hub and by paper. 

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