Furness Building Society has launched two new dedicated consumer products after announcing that it will now consider all consumer buy-to-let mortgage applications.
The first product is a 2 year discount mortgage at 60% LTV with a pay rate of 2.85%. The second product is offered at a higher maximum LTV of 75% is again a discounted rate for 2 years with a pay rate of 3.14%.
The discounted products both benefit from having no early repayment charges and are available for both purchase and remortgage cases with a free legal package on remortgages.
Sue Heron, marketing and sales director, commented: “This relatively recent addition to the buy-to-let world has caused some confusion with both consumers and lenders in the first few months following Mortgage Credit Directive.
“The Furness is delighted that we are now in a position to cater for consumer buy-to-let applications and believe that our product offering, coupled with our manual approach to underwriting will be appealing in the current mortgage market.”
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