Furness Building Society is getting ready to launch a 90% LTV product which brokers will be able to access across England, Scotland and Wales.  The product is a 2 year fixed rate at 3.49%, carries a £999 fee and will be open to first time buyers, home movers and also for remortgages. 

The 90% LTV product will be available from Monday 14 December and will offer a free legal and valuation fee package on standard remortgages in England and Wales, with an incentive package for Scottish cases.

The lender had previously restricted lending at 90% LTV to its heartland area (LA postcodes) and the great news is that for customers living within Furness’ heartland, the lower rate of 3.39% fixed for 2 years, with no fee, is still available.

Alasdair McDonald, Head of Intermediaries told us “We’re delighted to be able to lend at 90% LTV on a UK wide basis again.  We’ve got some fantastic relationships with brokers in the high LTV market and it’s great to be able to go out to them with a competitive rate alongside our flexible and individual approach to underwriting cases.  As with all 90% lending, we’re happy to look at new build houses, gifted deposits from close family and of course, our joint applicant, sole borrower proposition.

Throughout the pandemic, we’ve worked hard to be there for brokers and it hasn’t been without challenges but we’re delighted to be able to lend at 90% again throughout the UK.  As a mutual, it’s also important for us to keep our local proposition going for customers living close by.”