Furness has reduced its rates by up to 0.15% for its products to add a competitive edge.

The new range of residential fixed rates products includes a 2 year with a 5.39% for cases up to 80% LTV, and for clients looking for a longer term product there is a 5 year fixed rate product at 4.89% for cases up to 80% LTV.

All products in the residential product range carry a £999 fee which can be paid up front or added to the loan, and to help clients who are moving home all products in this new range include £250 Cashback.

As well as being available for employed clients, Furness are happy to look at cases with a more complex income including for those who are self-employed. Their flexible approach to lending means they are able to assess each case on its own merits including looking at pre-tax profits when assessing affordability.

For landlords, the Furness is able to offer a range of fixed rate Unregulated, Regulated and Consumer Buy to Lets up to 80% LTV and Holiday Lets up to 75% LTV. Their lowest rate Buy-to-let product is a 2 year fixed with a pay rate of 4.99% for cases up to 65% LTV.

As with all Buy-to-let products from Furness, applications will be assessed based on an applicant’s overall financial situation - however, the gross anticipated rent should be at least 125% of the interest charges at the initial pay rate. Earned income together with mortgage and other credit commitments will be reviewed personally by an underwriter. This enables Furness to consider a wider range of cases that present good quality, low risk lending

Jonathan Cartlidge, Head of Customer Strategy told us “We’re delighted to launch this new range of products to brokers across England, Scotland and Wales. We strive to remain competitive for our brokers but it’s also important to remember that we do not use credit scoring and each and every case is looked at individually by an experienced underwriter, by working in this way we are able to look at complex cases and apply flexibility in our decision making”