The reductions cover unregulated, regulated, consumer let and holiday let products
Furness has reduced rates across its BTL product range by up to 0.65 per cent.
The reductions cover unregulated, regulated, consumer let and holiday let products. There are two and five-year options available up to 80 per cent loan to value with rates starting from 5.19 per cent.
As with all BTL products from Furness, applications will be evaluated based on an applicant’s overall financial situation, not just by using an ICR calculation. Earned income together with mortgage and other credit commitments will be reviewed personally by an underwriter.
As a further benefit for clients looking for a holiday let, Furness permits the owners up to 90 days of personal use of the property, and will consider interest-only as well as repayment mortgages on properties in mainland UK.
There are also cuts on residential products. The new range includes two-year fixed rates starting at 4.85 per cent for cases up to 75 per cent LTV, 4.89 per cent for cases up to 80 per cent loan to value, and 5.34 per cent for cases up to 90 per cent LTV.
For clients looking for a longer term, five-year options are also available, with rates starting from 4.66 per cent for cases up to 80 per cent loan to value. To help clients who are moving home all products in this new range include £250 cashback.
Alasdair McDonald, head of intermediaries at Furness, said: We are proud to offer continued support to our intermediary partners, and our competitive products along with our flexible approach to underwriting means that we are able to service a wide range of BTL cases. Whether your client is an experienced property investor or first-time landlord, we can help find them ideal BTL mortgage solution.