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
Great News for Holiday and Buy to Lets
Furness has strengthened its Holiday Let range by introducing two new 5 year fixed rates at 65% and 75% LTV, priced keenly at 3.89% and 4.29% respectively.
Both products carry a fee of £1,250, which can be paid upfront or added to the loan.
The Holiday Let products allow a generous 90 days personal use each year for the owners and, the Furness will look at the overall affordability for a client when assessing a case.
They have also introduced a new Consumer and Unregulated Buy to Let range, which includes a reduction in rate to its 2 year fixed rate products at 65% and 75% LTV. These products are priced at 2.49% and 2.99% respectively.
In addition, the Furness has also introduced two new 5 year fixed rates for Unregulated Buy to Lets at 65% and 75% LTV and these are priced at 2.89% and 3.39%.
The Buy to Let products carry a £1,495 product fee, which can be paid up front or added to the loan.
All the products that Furness offer come with an incentive package of free valuation and legal fees on standard remortgages in England and Wales. For Scottish cases a contribution of £150 will be given towards legal fees.
Alasdair McDonald, Head of Intermediaries for Furness, told us “We’re often a great choice for brokers looking to place a buy to let case as we don’t assess cases using an ICR calculation but instead consider an applicant’s overall financial situation – earned income together with a mortgage and other credit commitments – and use our affordability model. Our experienced underwriters will take the time to look at cases individually and of course, they’ll always to their best to look for a way to say yes.”
To see the full range of products Furness has to offer visit www.furnessbs.co.uk