Furness cuts rates on buy-to-let range
Furness have cut rates across their product range by up to 0.65%.
The biggest reductions are on their buy-to-let range of Unregulated, Regulated and Consumer Let and Holiday Let products. There are 2 and 5 year options available for clients looking for a mortgage up to 80% LTV with rates starting from 5.19%.
As with all Buy-to-let products from Furness, applications will be assessed based on an applicant’s overall financial situation - not by simply using an ICR calculation. Earned income together with mortgage and other credit commitments will be reviewed personally by an underwriter. This enables Furness to consider a wider range of cases that present good quality, low risk lending.
As a further benefit for clients looking for a Holiday Let, Furness allow the owners up to 90 days of personal use of the property, and will consider both interest-only and repayment mortgages on properties across mainland UK.
There are also reductions on residential products. This new range includes a 2 year fixed rates starting at 4.85% for cases up to 75% LTV, 4.89% for cases up to 80% LTV, and 5.34% for cases up to 90% LTV.
For clients looking for a longer term, 5 year options are also available, with rates starting from 4.66% for cases up to 80% LTV. To help clients who are moving home all products in this new range include £250 Cashback.
Alasdair McDonald, Head of Intermediaries for Furness said “We are proud to offer continued support to our intermediary partners, and our competitive products coupled with our flexible approach to underwriting means that we are able to service a wide range of Buy-to-Let cases. Whether your client is an experienced property investors or first-time landlords, we can help find them ideal Buy-to-Let mortgage solution.”