Changes at Furness could mean saving hundreds on your mortgage – here’s what you need to know.

In a piece of good news for homebuyers and landlords, Furness Building Society has announced a significant cut in mortgage rates, with some slashed by as much as 0.24%

Here’s the breakdown:

For Homebuyers:

• Two-year discount: Secure a rate of 4.99% at 80% Loan-to-Value (LTV). This means you could get a cheaper mortgage even if you only have a 20% deposit.
• Two-year fixed: Bag a rate of 5.04% at 80% LTV. This option provides rate security, protecting you from potential future rate rises.
• Higher LTV options: For those with a 10% deposit, rates are slightly higher at 5.39% for a two-year discount and 5.33% for a two-year fix at 90% LTV.
• Fees and perks: Both residential options come with a £999 fee but offer a welcome cashback of £250.

For Buy-to-Let Landlords:

• Two-year fixed rate: Benefit from a competitive rate of 4.89% at up to 65% LTV, providing stability for your rental property investment.

What makes Furness Different?

Unlike some lenders who rely solely on credit scores, Furness takes a more personal approach. Each application is individually assessed by an experienced underwriter, meaning they can consider more complex cases and offer tailored solutions.

Jonathan Cartlidge, Head of Customer Strategy at Furness, said: “While we aim to remain competitive for our brokers, it is crucial to note that we do not use credit scoring. Each case is individually reviewed by an experienced underwriter, enabling us to handle complex cases with a flexible approach in our decision-making process.”