Furness Building Society has reduced rates by up to 0.25% on residential and buy-to-let mortgages, reinforcing its commitment to competitive lending.
- The 5-year fixed residential mortgage at 90% LTV is now 4.54%, a reduction of 0.15%.
- For remortgaging, the 2-year fixed rate for up to 80% LTV has been lowered by 0.25%, now at 4.54%.
- Buy-to-let mortgage rates also see a reduction, starting at 5.29% across various products including regulated and holiday lets.
- This initiative highlights Furness’s personalised approach, reviewing applications individually without credit scoring.
In a move to enhance their competitive edge, Furness Building Society has announced rate reductions of up to 0.25% across both their residential and buy-to-let mortgage offerings. This strategic adjustment is aimed at making these financial products more accessible and appealing to a broad range of borrowers in England, Scotland, and Wales.
For residential customers, the society has effectively reduced the 5-year fixed rate mortgage at 90% loan-to-value (LTV) to 4.54%. This is a notable decrease of 0.15%, reflecting the society’s proactive stance in aligning their rates with current market trends. Such a reduction signifies potential long-term savings for borrowers looking to secure a stable and predictable payment plan.
Further solidifying its appeal, Furness has also decreased rates for those seeking remortgaging options. Specifically, a 2-year fixed mortgage rate for cases up to 80% LTV has been cut by 0.25%, now available at a rate of 4.54%. This move is particularly beneficial for homeowners aiming to refinance their existing loans, offering them an opportunity to alleviate financial burdens associated with higher interest rates.
In the buy-to-let sector, Furness’s rate reductions apply to an array of products, including regulated, consumer, and holiday let options. With rates now starting at 5.29%, this presents a favourable opportunity for investors and landlords to capitalise on more affordable financing, thereby enhancing their property investment strategies.
Head of member and broker strategy, Jonathan Cartlidge, expressed enthusiasm about these developments. He stated, “We are thrilled to offer these new rate reductions, reinforcing our commitment to providing competitive products across England, Scotland, and Wales.” Cartlidge emphasised Furness’s dedication to a flexible and personalised customer experience, achieved through the society’s unique practice of individually reviewing each application without employing conventional credit scoring mechanisms. This approach underscores the society’s focus on customised client interactions, tailoring solutions to meet specific financial needs.
Furness Building Society’s strategic rate reductions exemplify its commitment to offering competitive and personalised mortgage solutions.
