Furness Building Society
Building SocietyFurness Building Society is a regional building society based in Cumbria, offering residential and buy-to-let mortgages with a personal, member-first approach. They are particularly known for their manual underwriting, which allows them to consider cases that fall outside standard high-street criteria.
About Furness Building Society
Furness Building Society was founded in 1865 and has its headquarters in Cumbria. The society is a mutual with no shareholders, offering residential and buy-to-let mortgages with a personal, member-first approach. Furness is particularly known for its manual underwriting, which allows it to consider cases that fall outside standard high-street criteria.
Furness serves members in Cumbria and the North West, with products also available nationally through intermediaries. The society's manual underwriting enables it to consider complex income structures, non-standard properties, and other circumstances that automated systems might decline.
Furness Building Society is regulated by the FCA and PRA and is a member of the Building Societies Association. The society has built a reputation for personal service and flexibility in the regional market.
Lending Focus
Furness Building Society offers mortgage products across 2 categories including Residential, Buy-to-Let.
Key Features
- Manual underwriting for individual case assessment
- Residential mortgages up to 90% LTV
- Predominantly broker-distributed with some direct lending
- Buy-to-let products for individual landlords
- Regional building society with flexible criteria
Pros & Cons
Pros
- Manual underwriting allows individual case assessment
- Flexible criteria suited to non-standard borrower profiles
- Member-owned mutual with a personal, community-focused approach
- Available both direct and through brokers
Cons
- –Small regional society — limited brand recognition nationally
- –No bridging, commercial, or specialist lending products
- –Processing times may be slower than larger lenders
Fees & Charges
- Arrangement Fee
- Typically £499–£999 — varies by product
- Valuation Fee
- Varies by property value — quoted at application
- Early Repayment Charge
- Typically applies during fixed-rate period — varies by product
- Overpayment Allowance
- Up to 10% of outstanding balance per year
Mortgage Rates
Rate data coming soon. View rates on Furness Building Society
| Product | Initial Rate | Type | Initial Term | Revert Rate |
|---|---|---|---|---|
| 2 Year Fixed | TBC | Fixed | 24 months | TBC |
| 5 Year Fixed | TBC | Fixed | 60 months | TBC |
| Tracker | TBC | Variable | 24 months | TBC |
Application Process
- Processing Time
- 3–6 weeks from application to offer
- Online DIP
- No — via broker or branch
- Offer Valid For
- 6 months from date of offer
Lending Criteria
- Maximum LTV
- 90%
Frequently Asked Questions
Where is Furness Building Society based?
Furness Building Society is based in Barrow-in-Furness, Cumbria, but lends to borrowers nationwide through its broker distribution network.
Does Furness Building Society manually underwrite mortgages?
Yes, Furness Building Society uses manual underwriting to assess each case individually, which allows them to consider applications that fall outside standard high-street criteria.
Can self-employed borrowers apply to Furness Building Society?
Yes, Furness Building Society accepts self-employed and contractor income and assesses it flexibly through their manual underwriting process.
Does Furness Building Society offer buy-to-let mortgages?
Yes, Furness Building Society provides buy-to-let products for individual landlords alongside their residential mortgage range.
How to Apply
Direct & broker access. Apply directly or via a broker for whole-of-market access. Find a broker
Similar Lenders
View all lenders| Name | Niches | Type | Max LTV |
|---|---|---|---|
| Cumberland Building Society | Residential, Buy-to-Let | Building Soc. | 90% |
| Darlington Building Society | Residential, Buy-to-Let | Building Soc. | 90% |
| Mansfield Building Society | Residential, Buy-to-Let, Adverse Credit | Building Soc. | 85% |
| Newbury Building Society | Residential, Buy-to-Let, Shared Ownership | Building Soc. | 95% |
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