Furness Building Society has announced the launch of a new range of mortgage products tailored for residential, buy-to-let, and holiday-let customers across England, Scotland, and Wales.
The residential offerings include a competitive 5.29% two-year discount product, available for up to 80% LTV with a £999 fee.
Designed to accommodate various employment situations, including self-employed individuals, Furness emphasises their adaptable approach to lending.
They are prepared to assess each case based on its own merits, factoring in pre-tax profits for a comprehensive view of affordability.
For the landlord market, Furness provides an array of buy-to-let options, with their most cost-effective product being a five-year fixed-rate mortgage at a 5.74% pay rate for up to 75% LTV, accompanied by a £995 fee.
Notably, their assessment process goes beyond standard Income Coverage Ratio (ICR) calculations, incorporating a thorough review of the applicant’s broader financial picture, which includes earned income and other credit obligations.
Holiday-let borrowers are offered an additional benefit of up to 90 days of personal property use per year. All the new products in this range come with an added incentive of £250 cashback.
Alasdair McDonald, head of intermediaries at Furness, said: “We’re delighted to launch our new range of products to brokers across England, Scotland and Wales.
“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.”
