Good news for landlords, especially those operating through limited companies or living abroad! Family Building Society has just reduced interest rates on their buy-to-let and interest-only mortgages, meaning cheaper monthly payments for you.

What’s Changed?

• Interest-only: Rates have dropped by 15 basis points across the board. This means that the cost of borrowing has gone down, leading to lower monthly repayments. For example, you can now get a five-year fixed interest-only mortgage from just 5.54%!
• Limited Company Buy-to-Let: Family BS has been particularly generous to landlords with limited companies. They’ve reduced rates by a whopping 20 basis points, with five-year fixed rates starting from 5.34% and two-year fixes from 5.84%. This is a great opportunity to secure a lower rate and save some serious cash.
• Expat Buy-to-Let: It’s not just UK-based landlords who are benefitting. Family BS has also lowered rates for expat landlords by 10 basis points. This means you can now get a two-year fixed rate on an expat buy-to-let mortgage at 5.99%.

New Products Introduced

Family Building Society isn’t just reducing rates, they’re also expanding their range of products. They have just reintroduced three-year interest-only mortgages with a discounted variable rate for those with a 60% or 80% loan-to-value ratio. This is good news for landlords wanting more flexibility with their mortgage.

Why Does This Matter?

Lower interest rates mean less money going out each month. This is especially important now, with the cost of living on the rise. If you’re looking to invest in property or already own a buy-to-let, it’s definitely worth checking out these new rates.