Furness adds remortgage for Help to Buy borrowers

Furness Building Society has introduced remortgage products for those looking to repay their Help to Buy equity loan.

The remortgage offering will allow Help to Buy borrowers to wrap their mortgage borrowing into one loan repayment.

The building society is making its full range of products available for these borrowers, including deals up to 95 per cent LTV, which include cashback of between £300 and £1,500.

Customers can also take advantage of additional borrowing for home improvements at the time of application, allowing customers to apply to transfer their existing mortgage, repay their Help to Buy loan and improve their home with one application.

A free legal fee package will be available but Furness says there may be additional legal fees to incur for the repayment of the equity loan via a solicitor.

Furness head of intermediaries Alasdair McDonald says: “We’re really thrilled to be ready to accept applications on this basis as people start to think about consolidating both elements of the mortgage, at the point they have to start to repay the equity loan. With the full product range on offer brokers can be sure that they will get the best available deal for their customers.”

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