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
Furness reduces rates on its 80% LTV and interest only products.
Furness has repriced two of its 80% LTV discounts which are available across England, Scotland and Wales.
The newly reduced products start at 1.19% with a £1,499 fee, and also feature a 1.29% with a lower £999 fee. The cut in these rates has seen Moneyfacts rate the 1.29% option as an “Excellent Product” and gained a place in their ‘Best Buys’.
For customers looking for an interest only mortgage, Furness has launched two new 70% LTV fixed rates, with a 2 year option at 1.49% and a 5 year option at 1.99%. Both products carry a £999 fee and applications are welcome for cases up to £900,000.
In addition, both new and existing customers will now be able to benefit from a 2.29% 2 year fixed rate or a 2.59% 5 year fixed rate for cases up to 85% LTV. Both products carry a £999 fee and are available on a capital and interest basis.
On all these new products, the fee can be added to the loan or paid up front.
To further help clients, Furness offer a free standard valuation package for purchases and re-mortgages and a free legals package for standard re-mortgages (£150 contribution for Scottish properties)
Alasdair McDonald, Furness for Intermediaries told us “The launch of these new products gives both our new and existing customers greater choice when they are looking for a lender who can help with their lower LTV mortgage.
As well has having competitive rates available, a further benefit of using the Furness is that our bespoke underwriting process means that each case is looked at individually by our team of underwriters who have a strong understanding of complex cases.”