Foundation Home Loans expands Green buy-to-let product range to specialist property types
Foundation Home Loans, the intermediary-only specialist lender, has today announced an expansion of its Green buy-to-let product range to specialist property types including short-term lets and standard HMOs (up to six occupants).
Advisers are now able to access Foundation’s ABC+ Green mortgage for landlords looking to purchase or remortgage such specialist properties that have EPC ratings of A-C.
The ABC+ Green HMO product has rates starting from 3.44% for 75% LTV on a F2 five-year fixed rate, with a 0.75% fee, while the ABC+ Green Short-term let product has rates starting from 3.94% for 75% LTV, again on a F2 five-year fixed rate, also with a 0.75% fee. Both allow a maximum loan size of £1 million.
Rates are tiered depending on the EPC rating of the property with those at an A level securing the most competitive rate. The products will also allow early remortgaging for those landlords who purchase a property, upgrade it using bridging finance and are then seeking to move to a standard buy-to-let deal.
Both products also benefit from a tiered cashback payment of up to £750 on completion of the mortgage.
George Gee, Managing Director (Commercial) at Foundation Home Loans, said: “Following our initial launch of our Green Reward mortgage range last year, we are keen to ensure we remain at the cutting edge of product design and activity in this space. Feedback on our Green-focused proposition has been excellent and we believe we have forged a reputation as a leader in this field.
“To that end, and to show our further commitment to support the ‘Green agenda’, we are launching these ABC+ products for landlords seeking to purchase or remortgage specialist product types such as short-term lets and standard HMOs. These products mirror our Green ABC+ range for standard buy-to-let properties, providing tiered rates and cashback depending on the EPC level.”