Family Building Society has re-entered the fixed rate mortgage market with a range of deals.
The mutual withdrew its products last week, as rising swap rates made lending costs uncertain.
On 13 March, Family Building Society released residential and buy-to-let (BTL) mortgages for new and existing borrowers.
The mutual now offers a two-year fix at 80% loan to value (LTV) within its core range, with a £999 fee and a rate of 5.09%. There is also a two-year fixed joint borrower sole proprietor (JBSP) mortgage at 90% LTV, also with a £999 fee, and a rate of 5.24%.
Further, it has made its recently launched 100% LTV Family Mortgage available on a five-year fixed rate with no fee and a rate of 5.59%. The product is open to first-time buyers and homemovers, and allows family members to put their savings into a Family Security account or allow the mutual to take a collateral charge worth 20% of the property’s value.
Within its interest-only offering, the mutual has a two-year fixed core deal at 80% LTV priced at 5.69%, and a retirement interest-only (RIO) product with a rate of 5.94% at 50% LTV. Both have £999 fees.
Family Building Society also has two-year fixes for BTL, BTL houses in multiple occupation (HMOs) and BTL switching and further advances.
Darren Deacon, head of intermediary sales at Family Building Society, said: “Like many lenders, we have seen the significant rises in swap rates over the course of the last week wreak havoc with mortgage pricing. However, the introduction of this limited range will at least give some choice to intermediaries trying to find a suitable mortgage for those in the midst of moving home or remortgaging.
“Obviously, it is a changing picture by the day, but we aim to return with our full range of fixed rates as soon as possible.”
The discounted variable rate products for expat, JBSP and core range remain available, with rates unchanged.
