- Our Autumn newsletter 2023 is now available. You can download it here
7.04% (2.15% Discounted Rate from follow on rate) for 2 years (XD0202)
Key things to bear in mind
- Purpose - Purchase, remortgage, product switch and further advance
- Discount - 2.15% applied to our Residential Investment Managed Mortgage Rate for 2 years
- Minimum rate - 4.39%
- LTV - Maximum 60%
- Application Fee - £175 + Valuation Fee for purchase and remortgage. (£125 for further advance, £0 for switch)
- Valuation Fees (Purchase) - Full standard valuation fee scale applies
- Valuation Fees (Remortgage) - Free for properties up to £500,000. For properties above £500,000 the standard valuation fee scale applies, less £330 discount
- Valuation Fees (Further advance and Product Switch) - £0
- Valuation Fees (Multi Unit Freehold Blocks) - A separate valuation fee scale will apply for this property type. For purchase applications, the full Multi-Unit Freehold Block valuation fee scale will apply. For remortgage applications, a discount of £330 from the Multi-Unit Freehold Block valuation fee scale applies
- ~Product Fee - £999 for loans up to £500,000. For loans above £500,000 0.4% of the loan amount.(£0 for further advance and switch)
- Early Repayment Charges - 2% in the first year and 1% in the second year
- Maximum loan - No maximum. Loans above £500,000 should be referred to us for specific agreement before submission of an application
- Minimum loan - £45,000 for purchase and remortgage. £2,000 for further advance. No minimum for product switches
- Cost for comparison - 9.3% APRC
More downloads & what you'll need to apply
Identification
Other items
Applicants are required to have an existing UK mortgage. We carry out an electronic credit check on all applicants which may show the performance of these. If this fails to show their existing mortgage(s), 12 months proof of conduct is required. To speed up our underwriting, you can provide this on submission.
Tenancy agreement
For remortgages, a copy of the existing / proposed tenancy agreement.
Background BTLs
- Evidence of rent being paid in and mortgage being paid out (bank statements may already cover this)
Evidence of deposit for purchases
- Evidence of deposit in a UK account held by the applicant(s)
- For gifted deposits, we require a signed gift letter from the giftor plus evidence of funds in a UK account and the giftors details (names, date of births, relationship to applicants)
Applicants with four or more mortgaged Buy to Let properties
- We will treat these applications as a portfolio landlord and we require details of their full portfolio and a business plan.
Case study - The Family Mortgage - helping first time buyers with small deposits
Choosing the Family Mortgage to buy their first home together
Over 125 years of helping people move in
For a long time we've been trusted to lend to a wide variety of people with a more small scale, personal approach as shown in our awards.
Contact our expert UK team
Existing customers
Savings - 03330 140144
savings.service@familybsoc.co.uk
Mortgages - 03330 140146
mortgage.service@familybsoc.co.uk
...or ask the way that suits you.
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Visit us in branch
Ashley Square, Epsom, Surrey, KT18 5DD.
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