Furness returns to fixed rate market

It also offers a £250 cashback for all products in the new range

Furness returns to fixed rate market

Furness Building Society has returned to the fixed rate market with both residential and buy-to-let products.

The lender offers a two-year product at 3.89% and a five-year product at 3.89%, both with a £999 fee at 80% loan-to-value (LTV) for residential clients.

Interest-only options are also available for clients with a case up to 70% LTV on a two- and five-year basis.

Furness said applications are welcome on residential mortgages across England, Scotland, and Wales. They are also available on new build houses.

The mutual can also offer a joint borrower sole owner solution for first-time buyers, and gifted deposits are accepted from close family members.

For landlords, Furness offers a range of unregulated, regulated, and consumer buy-to-let products up to 80% LTV and holiday-lets up to 75% LTV.

Buy-to-let applications will be assessed based on an applicant’s overall financial situation. Earned income, together with mortgage and other credit commitments, will be reviewed personally by an underwriter to enable Furness to consider a wider range of cases.

All products in this new range include a £250 cashback.

Alasdair McDonald, head of intermediaries at Furness, said they are delighted to return to the fixed rate market with the new product range.

“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,” McDonald added. “We often help our broker partners to understand their clients’ accounts with self-employed cases, and our experienced team are on hand to help you with your next case.”