Regulated “family” Buy to Let product launched

by Neil Patterson

11:04 AM, 31st January 2017
About 4 years ago

Regulated “family” Buy to Let product launched

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Regulated “family” Buy to Let product launched

FurnessFurness for Intermediaries has launched a regulated “family” Buy to Let 5 year fixed rate product. A regulated family BTL is where it is your intention now or in the future to have a close family member live in the property.

This includes in the horizontal family tree plane Brothers and Sisters and in the vertical Parents, Grandparents,  Children and Grandchildren.

The family 5 year fixed product is priced at 3.75% up to a max 75% Loan to Value with a fixed £1,495 fee including free Valuation and legals for a remortgage.

Furness is happy to accept applications on an interest only basis for both regulated and unregulated buy to lets.

Other Regulated Family products include:

  • 3.15% variable for 2 years up to a max 60% LTV with a £995 fee reverting to MVR @ 5.29%
  • 3.6% variable for 2 years up to a max 75% LTV with a £995 fee reverting to MVR @ 5.29%

Head of Intermediary Distribution, Barry Fitzsimmons said “we’ve looked at the market and listened to our intermediary partners to create a product range which we feel is comprehensive and supports landlords with their choice of mortgage product whilst providing a solution for brokers and their clients.
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Latest tier restrictions are a pretty blatant attack on less wealthy areas of the country

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