Family Building Society has reintroduced five-year fixed rate HMO products for UK and expat landlords and cut buy-to-let mortgage rates, as part of a wider refresh of its mortgage range.
The HMO products were withdrawn in March, making their return a notable development for landlords managing houses in multiple occupation. Alongside this, the Society has reduced its two-year fixed rate by 30 basis points and trimmed five-year UK landlord rates by 10 basis points.
The refresh also includes the launch of new two-year interest-only BoE tracker rates, available to owner occupiers as well as UK and expat buy-to-let landlords, including those borrowing through limited company SPVs.
"The UK housing market is facing a period of uncertainty, with confidence among homebuyers and those looking to remortgage affected by events at home and overseas," said Darren Deacon, head of intermediary sales at Family Building Society.
"Brokers have told us that enquiries for tracker products are on the increase. Our new BoE tracker rates give borrowers seeking an interest-only option greater flexibility while they wait for more stable economic and political conditions before committing to a longer-term fixed rate."
