Family Building Society - Buy to Let Offset Mortgage launch

22 March 2017

With effect Wednesday 22 March 2017 Family Building Society has launched its Buy to Let Offset Mortgage.

Please find attached details of interest rates, fees etc.

Additional information for the Offset Mortgage

• Maximum offsetting available is 100% of the mortgage.
• Borrower required to open & maintain one linked Offset Saver in same names until the mortgage is redeemed or until the customer switches to a non-offset product, whichever is sooner.
• Up to three additional Offset Savers can be linked to an Offset Mortgage.
• Direct family members (borrower’s spouse, parent(s), parent's sibling(s) or Borrower's grandparent(s) including step and in law’s) may hold an Offset Saver account.
• Lump sum capital repayments are allowed ERC free up to a maximum of 10% per annum.
• Regular monthly overpayments are not allowed.
• Applications will be accepted on either a capital repayment or interest only basis.
• Term reduction available on a capital and repayment basis only.
• Payment reduction available on either a capital and repayment basis or an interest only basis.
• Available for purchase and remortgage up to 65% LTV.
• Minimum loan amount £45,000.
• Interest calculated monthly.
• Standard buy to let lending criteria applies. Please refer to our lending criteria for more details.

Full details of the new product is attached.

Information Files