Foundation Home Loans, the intermediary-only specialist lender, has today (Thursday 4 August) announced the launch of a ‘Summer Special’ which sees a 40bps rate reduction on its previous five-year fixed rate Limited Edition buy-to-let product.
Available as part of its F1 product range – for borrowers with an almost clean credit history – the ‘Summer Special’ five-year fix, offered up to 75% LTV, comes with a rate of 4.59% and an ICR of 125% at pay-rate for limited companies.
The maximum loan available is £1m, and the product is available for both limited company or individual landlord borrowers looking to either remortgage or purchase. It also comes with one free standard valuation, no application fee, and a product fee of 2%.
This new special will allow more brokers and their clients to experience the ongoing strength of Foundation’s service levels. The lender is currently taking just one day to review buy-to-let mortgage applications. The lender is also averaging just 30 seconds to answer incoming calls.
George Gee, Managing Director (Commercial) at Foundation Home Loans, said: “This ‘Summer Special’ represents a highly competitive option for our intermediary partners, and with the free standard valuation and no application fee, is designed to offer value to a wide range of landlord clients.
“It also reaffirms our ongoing commitment to providing a range of solutions and service timings which ensure that borrowers and advisers can access the products they need, delivered in a timescale which we know is not typical in the current mortgage space.
“We are pleased to be able to support our intermediary partners with rate reductions coupled with a compelling service proposition offering clients the benefit of great products delivered in a timely fashion.”