"We’re delighted to launch this new range of products to brokers across England, Scotland and Wales."
- Jonathan Cartlidge, head of customer strategy at the Furness
Furness has reduced rates across its residential and buy-to-let mortgage products by up to 0.15%.
The new range of residential products includes a two-year fixed rate at 5.39% and a five-year fix at 4.89%, both available up to 80% LTV.
All products in the residential product range carry a £999 fee which can be paid up front or added to the loan, and all products in this new range include £250 cashback.
As well as being available for employed clients, Furness are happy to look at cases with a more complex income including for those who are self-employed, and can assess each case on its own merits including looking at pre-tax profits when assessing affordability.
For landlords, Furness offers a range of fixed rate unregulated, regulated and consumer buy-to-lets up to 80% LTV and holiday lets up to 75% LTV. Its lowest rate buy-to-let product is a two-year fixed with a rate of 4.99% for cases up to 65% LTV.
As with all buy-to-let products from Furness, applications will be assessed based on an applicant’s overall financial situation - however, the gross anticipated rent should be at least 125% of the interest charges at the initial pay rate. Earned income together with mortgage and other credit commitments will be reviewed personally by an underwriter.
Jonathan Cartlidge, head of customer strategy at the Furness, said: “We’re delighted to launch this new range of products to brokers across England, Scotland and Wales. We strive to remain competitive for our brokers but it’s also important to remember that we do not use credit scoring and each and every case is looked at individually by an experienced underwriter, by working in this way we are able to look at complex cases and apply flexibility in our decision making."
