Furness Building Society will now remortgage Help to Buy loans

Ryan Bembridge

May 25, 2018

Furness Building Society will now allow Help to Buy customers to remortgage in order to pay off their equity loan.

Those who want to transfer their borrowing into one loan repayment can take out any of building society’s existing products, including those up to 95% loan-to-value.

Alasdair McDonald, head of intermediaries, said: “We’re really thrilled to be ready to accept applications on this basis as people start to think about consolidating both elements of the mortgage, at the point they have to start to repay the equity loan.

“With the full product range on offer brokers can be sure that they will get the best available deal for their customers”

Furness’s 95% LTV mortgages offer cashback ranging from £300 to £1,500.

A free legal fee package will be available, however Furness warned that there may be legal fees to incur for the repayment of the equity loan via a solicitor.

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