Family Building Society has announced rate reductions across its owner occupier mortgage range, alongside updates to its buy-to-let products, effective from today, 6th November.
Rates have been cut by up to 0.15% on the society’s owner occupier repayment products, while interest-only products have seen reductions of 0.10%.
In the buy-to-let range, the lender has simplified its structure by removing the 60% loan-to-value (LTV) tier, meaning all products are now available up to a maximum of 75% LTV.
The society has also reduced 2- and 5-year fixed rates by 0.10% across UK landlord, limited company and expat buy-to-let.
For existing borrowers, product switches and further advances are now available on a fee-free basis.
Darren Deacon, head of intermediary sales at the society, said: “It is clear that purchasers and those looking to remortgage, may be delaying decisions until after the Autumn Statement and the potential tax raising measures that are likely to be announced.
“Therefore, these price reductions will be welcomed by many on the cusp of a purchase or remortgage and in particular by UK and Expat landlords looking to secure certainty that a 2- or 5-year fixed term in an uncertain economic outlook.”
