Furness for Intermediaries cuts cost of fixed-rate deals

Furness for Intermediaries has lowered rates across its residential fixed-rate mortgage range. 

At the same time, the building society has introduced a new three-year product into its broker-only range of products.

The new fixed-rate deals includes a two-year fix at 2.69 per cent and a five-year fix at 2.99 per cent (both at 90 per cent LTV). 

Previously these were priced at 2.69 per cent and 3.38 per cent respectively. 

It is also offering a two-year fix at 2.23 per cent, a three-year fix at 2.43 per cent and a five-year fix at 2.73 per cent – all at 80 per cent LTV.  

All of these products carry a £1,250 product fee, which remains unchanged.  The loans are available for both purchase and re-mortgage.

The deals are available for mainstream residential cases. Furness points out that this includes clients who are self-employed, those looking to borrow on a ‘joint application sole proprietorship’ basis as well as those looked to extend their mortgage into retirement. 

For those remortgaging, Furness is offering free legal and valuation fees in England and Wales. A contribution of £150 towards legal fees will apply to applications in Scotland. 

Furness Building Society’s head of intermediaries Alasdair McDonald says these changes were in response to feedback from brokers that fixed rate mortgages were now in more demand than ever. 

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