Southampton-based packager Complete FS has added Family Building Society to its lending panel.
Family BS, which is part of National Counties Building Society, offers a range of offset and ‘low-start’ mortgages and also offers a loan called the Family Mortgage, which allows family members to combine their finances to reduce payment costs without having to hand over the money as a gift.
Complete FS director Tony Salentino says: “We are delighted to welcome Family Building Society to our panel along with their parent National Counties. Their combined product range helps to address a number of challenges with which brokers come to us, particularly in relation to first time buyers and at the other end of the spectrum, helping clients borrow into retirement.
“Mutual building societies have already demonstrated how resilient and innovative they can be since the credit crunch and it is good to see another society taking a positive approach to helping customers with issues which are ignored by other mainstream lenders.”
Family BS head of intermediary sales Cammy Amaira says: “We are very pleased to be part of Complete FS’ lending panel. The Family Mortgage was designed specifically to allow family members to help first time buyers by providing security and offsetting facilities. As home ownership becomes an ever more distant dream for younger borrowers, the fact that we can offer loans up to 95 per cent of a property’s value is very significant and, with the benefit of offsetting, you won’t get a lower monthly payment anywhere on a 95 per cent loan.
“And when it comes to lending into retirement, while some lenders simply rely on an application form ‘check box’ and credit score, we use a common sense approach taking into account the applicant’s individual circumstances. In other words, we take the time and effort to see the bigger picture – about as far away as you can get from the ‘computer says no’ approach of other lenders.
“We believe our partnership with Complete FS will allow these underserved borrowers more choice in a market that doesn’t always serve their needs.”
National Counties Building Society launched the Family BS brand in July last year.