Furness reduces rates for residential and buy-to-let products

Furness has reduced rates on the majority of its residential and buy-to-let product range.

The new range of residential products includes a 5.24% 2 year fixed rate for cases up to 75% LTV, and 5.34% 2 year fixed rate for cases up to 80% LTV. For clients looking for a longer term product there is a 5 year fixed rate product at 5.49% for cases up to 90% LTV.

To support First Time Buyers, the Society can offer mortgages on a Joint Borrower Sole Proprietor basis where one of the joint borrowers is not going to be a co-owner, and all products in this range come with £250 Cashback.

As well as being available for standard employed clients, Furness are happy to look at cases with a more complex income including for self-employed clients. DIPs and applications for the new products are welcome from both purchasers and those looking to re-mortgage and can be submitted via the Society’s online submission system. A highly experienced underwriting team, who work closely with brokers on a daily basis, will individually assess all applications.

Furness buy-to-let is able to offer a range of Unregulated, Regulated and Consumer Let products up to 80% LTV.  There are 2 and 5 years options available to clients with the rates starting from 5.34%

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.

Alasdair McDonald, Head of Intermediaries at Furness told us “We're delighted to launch our new range of products to brokers across England, Scotland, and Wales. With our individual approach to underwriting, we can cater for the straightforward cases as well as those that need a closer look and a personal touch.”