Furness Update

Furness Building Society Launches Shared Ownership Mortgage Range

Furness Building Society has launched a new range of Shared Ownership mortgages, designed to provide brokers with flexible solutions to support their clients in achieving homeownership. The products, available across England and Wales, aim to make the property ladder more accessible for first-time buyers and those with smaller deposits.

Their competitive product rates include options starting from 4.65% for two-year fixed products and 4.48% for five-year fixed products, offering attractive choices to suit a variety of client needs. All products within the range come with a £250 cashback

With a focus on tailored underwriting and innovative affordability options, Furness’ Shared Ownership mortgages offer features such as manual case assessments, higher loan sizes on five-year products, and enhanced affordability for energy-efficient properties with an EPC rating of A or B.

Some of the other benefits of choosing Furness for Shared Ownership include:

• Lending up to 95% Loan to Share on new-build homes, including flats.
• 5% builder incentives accepted, offering more options for buyers of new-build properties.
• Improved affordability assessments for energy-efficient homes, with increased loan size of up to £24,000.
• Upfront case reviews for non-standard applications, ensuring clarity and smoother processing.

Jonathan Cartlidge, Head of Member & Broker Strategy, commented:

“At Furness, we’re committed to helping brokers find solutions for clients who might not fit the mould elsewhere. With our Shared Ownership range, we’ve combined flexible criteria with the kind of personal service brokers value. Whether it’s through manual underwriting, no automated credit scoring, or upfront case reviews, we’re proud to offer a proposition that puts individual circumstances first.”