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.
FURNESS CUTS RATES ON HOLIDAY LET PRODUCTS
Furness Building Society has cut rates on selected Holiday Let products.
The new rates, both 2 year discounts launch today. At 65% LTV the rate is reduced from 3.19% to 2.99% with a £995 fee. At 75% LTV the rate is 3.39% a reduction from the previous rate of 0.2%. For remortgages, the lender offers a free standard valuation and free legal fees although in Scotland this is adjusted to a £150 contribution towards legal fees.
The lender accepts applications across England, Scotland and Wales, including the Isle of Skye. Holiday Lets with Furness allows the property owner to use the property themselves for up to 90 days a year.
Alasdair McDonald, Head of Intermediaries at Furness told us “With the staycation market increasing in popularity we’re sure brokers and their customers will welcome these lower rates which will further increase the rental yield enjoyed by the customer after what has been an incredibly tough 16 months for tourism”
Furness has also reduced the rate on its 2 year Buy to Let product at 75% which is now priced at 2.69%, a reduction of 0.2% from the previous rate.