Family Building Society reveals reductions to two-year fixed rates

Family Building Society has announced rate reductions of up to 20bps across its range of two-year fixed rate products for owner occupiers (OO) and buy-to-let (BTL) borrowers.

OO repayment and interest-only products have seen rates reduced by 15bps, while BTL UK and BTL Ltd Company SPV, both including HMOs, have been cut by 20bps. BTL Expat, also including HMOs, has been reduced by 10bps.

In addition to these reductions, the Society has introduced a two-year Expat Ltd Company BTL tracker product at 5.54% and a 1% fee, and a 4.54% semi-exclusive tracker with a 3% fee and £500 cashback. Both products are available as interest-only or repayment.

The Society’s five-year fixed range and variable rate products, including discount and tracker rates and mortgage reversionary rates, remain unchanged.

Darren Deacon, head of intermediary sales at Family Building Society, said: “While long-term rate uncertainty continues, these lower-priced two-year options will be welcomed by owner-occupiers and landlords seeking the certainty that shorter-term fixed rates provide.

“The new Expat Limited Company BTL tracker also offers flexibility to landlords who are comfortable taking a view on potential movements in Bank Rate.”