Furness Building Society have release a product update for intermediaries. See below for details. Access these product via our direct to lender mortgage club and get the benefits of payment on completion.
Announcement
NEW GREEN PRODUCT RANGE FROM FURNESS
Building society has launched a range of further advance products to help improve energy efficiency in the home.
Furness Building Society has introduced a range of Green Further Advance mortgage products with highly competitive rates.
The products are available to homeowners and landlords specifically seeking to improve the energy performance of their property.
Further advance loans typically enable applicants to carry out home improvements by borrowing more against their home through their existing mortgage.
Furness’ new Green Further Advance range is for those with environmental aspirations and rewards the installation of solar panels, heat pumps and insulation and more with attractive interest rates.
Loans range from £5,000 to £40,000 and products are fixed at either two or five years. There is no product fee.
There are four products in the range:
- Green BTL 2 Year Fixed at 4.89% with a max overall LTV of 75%
- Green BTL 5 Year Fixed at 4.38% with a max overall LTV of 75%
- Green Resi 2 Year Fixed at 4.29% with a max overall LTV of 95%
- Green Resi 5 Year Fixed at 3.99% with a max overall LTV of 95%
Loans will be considered for those considering implementing the following:
- Solar panels
- Traditional, cavity wall, loft or solid floor insulation
- Heat pumps
- Double / triple glazing
- Electric car charging point
- Electric storage batteries
- Hot water tanks
- Thermostatic radiator valves
- New boiler
- Utilities upgrades
Applications for the new high LTV products are welcome from both residential homeowners and buy-to-let landlords and will be assessed using Furness Building Society’s bespoke underwriting process. Each case will be considered on an individual basis by a highly experienced underwriting team.