Family Building Society Mortgages
Family Building Society is a trading name of National Counties Building Society and has been looking after people's money since 1896.
As a mutual the Building Society does not have shareholders and is run for members.
Family BS are focused on innovative mortgage lending products to meet the needs of modern families.
They have a personal approach and operate a manual underwriting process.
Family BS offer a range of mortgage products including purchase and remortgages; offset mortgages; family assisted mortgages; later life lending; expat borrowing and buy to let.
Remortgaging with Family BS
As interest rates change over time and new products come onto the market, it can be a good idea to move your mortgage to a different provider to get a better deal.
This can also allow you to borrow more, so you can pay off your existing mortgage and have some cash left over. Switching mortgage providers can be relatively simple, with many lenders offering to help you with some or all of the fees involved.
Remortgaging via Family BS can be used to raise capital for home improvements.
Loan to value ratio
How much you will be able to borrow as a mortgage is likely to be influenced by a number of factors, including how much you earn.
Another important consideration is your loan to value (LTV) ratio. This shows how the amount you want to borrow relates to the market value of your property.
So, if you want to borrow £50,000 as a mortgage on a £100,000 house, your LTV would be 50%.
If you then wanted to take out a second charge mortgage for a further £25,000, this would make your LTV 75%.
The higher your LTV, the higher interest rates most lenders will tend to offer.
Find the best deals on mortgage rates
The mortgages market is diverse, with many different providers and types of mortgages to choose from.
This can make it hard to know which offers the best value for you. Our mortgage calculator takes a lot of the hard work out of the equation for you.
All you have to do is head to the top of the page and plug in some basic details, including the amount you wish to borrow, how long you want to repay over and why you need the money.
The mortgage calculator will then match your enquiry with our pick of the top deals from across the industry, making it much quicker and simpler for you to make a comparison.
Independent Mortgage Advice
Remortgaging is particularly popular at the moment as interest rates are low.
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Whether it will be a good idea for you to remortgage depends on a number of factors, including your goals and your personal circumstances.
However, in general, if interest rates are lower than you are currently paying on your mortgage, it may be a good time to remortgage.
If interest rate are higher than you are currently paying, it may be better to look at other options, such as a second mortgage or a personal loan (if you aim is to borrow more).
If you are not sure whether now is the right time to remortgage, it is a good idea to speak to an independent mortgage broker who will be able to offer impartial advice on Family BS mortgages as well as other lenders.