Family Building Society cuts rates to ‘reflect market stability’


Family Building Society has announced a series of rate reductions across its mortgage range to reflect the ‘relative stability’ in the market.

Changes have been made to owner occupier, buy-to-let (BTL), limited company and expat BTL products.

For owner occupiers, all fixed rates have been reduced by 0.20% on repayment mortgages, with core ranges now starting from 4.99%. All two-year fixed repayment rates have been withdrawn without replacement.

Interest only five-year fixed rates have been reduced by 0.10% at 65% LTV, including retirement interest only. The core five-year fixed range now starts at 5.54%.

In terms of BTL, five-year fixed rates now start at 5.84% for UK landlords, with a £999 product fee. This is a reduction of 0.20%.

For limited company SPVs, five-year fixed rates have been reduced by 0.30% and now start at 5.74% with a 2% product fee.

Expat two-year discount rates have been reduced by 0.25%, now starting at 5.99%.

Family Building Society director of business development Keith Barber comments: “This new set of mortgage products reflects the relative stability we now see across the mortgage market. These rate reductions will be especially welcomed by intermediaries looking to help underserved borrowers who may be coming to the end of their existing fixed term loans and looking to fix their repayments for the foreseeable future.”

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