Furness and BuildLoan have had a strong relationship for a number of years, but this recent announcement will offer greater choice to intermediaries looking to help their clients, especially those for whom the management of cash flow during their self-build project is particularly important.
Furness has also enhanced its lending criteria and product features as part of this launch.
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Euan Ballantyne, head of products at Furness (pictured above), said: “We believe our products are competitively priced and have no doubt that, by working together with BuildLoan, we can provide intermediaries with an exclusive mortgage solution designed specifically for clients who are building their own home, or converting/renovating an existing property.
“We have seven years’ experience in this specialist market and believe that by offering advanced stage payments we can help self-builders with their cash flow, thereby making the home building process quicker and easier for them.”
Rachel Pyne, BuildLoan operations director, added: “We are delighted that Furness has developed an advance stage payment product which will provide an even greater level of support to mortgage intermediaries and their clients.
“Having worked with Furness for a number of years, we look forward to increased lending through this new product.”
The Furness Building Society advanced stage payment mortgage is now available exclusively through BuildLoan.