Furness launches new two-year residential product

Furness for Intermediaries has introduced a new two-year residential product as well as offering rate reductions to its fixed rate product range.

The product, a new two-year residential 70 per cent LTV, with a 1.80 per cent fix, offers free standard legal fees for remortgages in England and Wales and a £150 contribution towards fees in Scotland.

The five-year fixed rate products have also seen a reduction, with the 80 per cent LTV now at an initial rate of 2.58 per cent and the 90 per cent LTV product currently standing at 2.78 per cent. Each product comes with a £1,250 fee.

Furness head of intermediaries Alasdair McDonald says: “We are constantly looking at our products and services and I believe that the repricing of a selection of our fixed rates, coupled with our approach to underwriting allows us to offer solutions across a broad section of the mortgage market.”

This comes after Furness lowered its residential rates last month, for both is 80 per cent and 90 per cent LTV product range.

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