3.64% 5 year fixed rate Family Mortgage - XF0376
The Family Mortgage brings wider family assets such as savings and property as security into the mortgage calculation, allowing the buyer to benefit from a fair and reasonable rate that may not be available from other lenders when faced with a 95% LTV.
- Purpose - Family Mortgage applications for purchase, product switch and further advance
- LTV - Maximum 95%. For applications above 75% LTV additional security is required. Additional offsetting feature is available.
- Security options available - Security Account, Security Through Property, Offset Account
- *Application Fee - £175 + Valuation Fee for purchase. See more details, fees & downloads for product switch and further advance fees.
- Valuation Fees - Free for properties up to £500,000. For properties above £500,000 the standard valuation fee scale applies, less £330 discount. See more details, fees & downloads for product switch and further advance fees.
- ~Product Fee - £599
- ^Cashback - £250 for purchase applications
- Early Repayment Charges - 5% until 30/09/2022, 4% until 30/09/2023, 3% until 30/09/2024, 2% until 30/09/2025, 1% until 30/09/2026
- Maximum loan - £500,000
- Minimum loan - £45,000 for purchase. £2,000 for further advance. No minimum for product switches.
- Cost for comparison - 3.9% APRC
- Additional criteria - The mortgage must complete by 01/11/2021
- ID documents if the electronic check we carry out on all our applicants fails
- Three full months most recent consecutive bank statements for all current accounts, to evidence all income and outgoings
- Bank statements must show the applicant's name, account number, sort code & bank logo
Property or investment income applicant
- Two years most recent SA302s
- Three months most recent payslips
- Most recent P60
Self employed applicant
- Two years most recent accounts or two years most recent SA302s / Tax Calculations (100% Completed) or FBS Accountants Certificate
- Accountant’s details on the application form
Applicant is already retired or if the term goes beyond retirement or age 70
- Most recent Pension Statement or letter from Department for Work and Pensions
- Most recent annual Pension Statement
- Most recent P60
Applicant renting current home
- 12 months bank statements showing rent payments
Applicant already has a mortgage
- We require proof of mortgage payments. We carry out an electronic credit check on all applicants which usually confirms this. However if this fails, we will need proof. This can be provided from 12 months bank statements, the latest mortgage statements, or a combination. To speed up our underwriting, you can provide these on submission
Applicant has background BTL(s)
- Evidence of rent being paid in and mortgage being paid out (bank statements requested above may already cover this)
Applicants with purchase deposits
- Evidence of deposit in an account held by the applicant(s)
- For gifted deposits, we require evidence of the funds in a UK account and the giftors details (name, date of birth, relationship to applicants)
- *Application Fee - £175 + Valuation Fee.
- Valuation Fee - Free for properties up to £500,000. For properties over £500,000 the standard valuation fee scale applies, less £330 discount
- ~Product Fee - £599
Procuration fees for purchase applications (gross fee paid)
- Directly authorised brokers submitting business to us directly - 0.55%, min £247.50
- Submitting a case via Mortgage Clubs - 0.57%, min £256.50 (Mortgage Clubs will deduct 0.02%)
Further advance fees
- *Application Fee - £125
- Valuation Fee - £0
- ~Product Fee - £0
- Legal Fees - £100 + disbursements
Procuration fees for further advances (gross fee paid)
- Directly authorised brokers submitting business to us directly - 0.25%, min £5.00
- Submitting a case via Mortgage Clubs - 0.27%, min £5.40 (Mortgage Clubs will deduct 0.02%)
Product switch fees
No fees apply to switch to a new product with us on the same terms.
Procuration fees for product switches (gross fee paid)
- Directly authorised brokers submitting business to us directly - 0.20%, no min
- Submitting a case via Mortgage Clubs - 0.22%, no min (Mortgage Clubs will deduct 0.02%)
For further fee information click here.
- FBS Owner Occupier Minimum Documents Required Checklist (M/260)
- FBS Details of Property as Security Form (M/093)
- FBS Family Mortgage Application Form Pack
- FBS Family Mortgage Summary Form (M/095)
- FBS Family Offset Account Application Form (S/011)
- FBS Family Security Account Application Form (S/007)
- Owner Occupier Family Mortgage Product Summary Pack (M/139)
- FBS Family Mortgage vs the Help to Buy Scheme Comparison Leaflet (M/137)
- FBS Frequently Asked Questions about the Family Mortgage Leaflet (M/136)
- FBS Family Mortgage Brochure (M/002)
Can we help your client? Use our tool to find out.
Simply type your criteria to see our levels of acceptance and flexibility.
Find out how much your residential client may be able to borrow. To see affordability for a Buy to Let client, use our Buy to Let calculator