Family BS Revises Interest-Only Mortgage RatesFamily BS Revises Interest-Only Mortgage Rates [Image of Darren Deacon] Family Building Society (Family BS) has announced reductions in interest rates for its interest-only home and buy-to-let (BTL) products. Owner-Occupiers * Five-year fixed rates reduced to 5.54% * Two-year fixed rates starting at 6.14% * Introduction of three-year interest-only loan terms at 60% and 80% LTV * Rates starting at 6.44% for 60% LTV and 6.69% for 80% LTV Limited Liability Companies (LLCs) * Five-year fixed rates starting at 5.34% * Two-year fixed rates at 5.84% Expats * Two-year fixed rates reduced to 5.99% Additional Features * £500 cashback on completions * Application fee of £175 * Product costs starting at £999 Darren Deacon, Head of Intermediary Sales at Family BS, stated, “These discounts are welcome news for our intermediary partners… underlining our commitment to the buy-to-let market.” Background Earlier this year, Family BS announced the launch of a private limited company version of its offset BTL mortgage to support landlords with their financial needs.
Family Building Society has reduced the rates on its interest-only home and buy-to-let (BTL) products.
Within the owner-occupier interest-only range, rates have been reduced by around 0.15%. Five-year fixed rates are priced from 5.54% and two-year fixed rates start at 6.14%.
For limited liability companies, prices have fallen by around 0.2%, with five-year fixed rates starting at 5.34% and two-year fixed rates at 5.84%.
Fixed interest rates for expats have fallen by around 0.1%, with two-year fixed rates starting at 5.99%.
The lender has also reintroduced a 60% LTV and 80% LTV three-year interest-only owner-occupier loan term for purchase, refinancing, further advances and product swaps.
At 60% LTV the price is 6.44%, while at 80% LTV the rate increases to 6.69%. Product costs start at £999, with a follow-on rate of 8.44%.
You will also receive £500 cashback on completions and the application fee is £175.
Darren Deacon (pictured), Head of Intermediary Sales at Family Building Society, said: “These discounts are welcome news for our intermediary partners who have clients looking for the stability of a fixed rate only product.
“Similarly, landlords will now benefit from a choice of significantly reduced corporate products and additional discounts for expat landlords, further underlining our commitment to the buy-to-let market.”
At the Mortgage solutions At its Buy to Let event earlier this year, Family Building Society announced it was launching a private limited company version of its offset BTL mortgage to help more landlords with their finances.
Anna is currently Deputy Editor for Mortgage Solutions and Editor for Specialist Lending Solutions. She has worked as a journalist since 2019 and achieved her Gold Standard NCTJ diploma from News Associates in a six-month accelerated course. She began her career as a reporter at trade publication The Insurance Insider, where she covered a wide range of topics, before joining Mortgage Solutions and Specialist Lending Solutions in 2021. In her role, she helps to compile and structure the news agenda for the day and writes press releases, reports, interviews, analysis and exclusives for both titles. She also commissions blogs for Specialist Lending Solutions and runs online masterclasses and in-person events across the business. She has been nominated for three journalism awards, including BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023. Before becoming a journalist, Anna worked in e-commerce at the websites Snow + Rock, Cycle Surgery and Runners Need, and before that she worked at the specialist financial PR agency Rostrum. In her spare time, Anna enjoys reading, watching live music and cooking for friends and family. When she gets the chance, she also enjoys hiking, skiing and indoor rock climbing.
