Furness reduces rates on residential product range and launches 90% LTV fixed rate

Furness has reduced its rates for its residential products to add a competitive edge.

The new range of residential products includes 2 year options with a 3.45% discount and a  5.19% fixed rate for cases up to 60% LTV, and for clients looking for a longer term product there is a 5 year fixed rate product at 5.29% for cases up to 60% LTV.

For clients in need of a higher LTV product, Furness has introduced a new 2 year fixed rate 90% LTV product with a pay rate of 5.89%.

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.

Alasdair McDonald, Furness for Intermediaries 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”