Foundation Home Loans launches new Limited Edition BTL products
Foundation Home Loans, the intermediary-only specialist lender, has today announced the launch of two new Limited Edition buy-to-let products in its F1 tier – for clients with an almost clean credit history.
Available for both purchase and remortgage, and for both individual and limited company borrowers, the two new Limited Edition products cover both two- and five-year fixed-rate terms.
The two-year fix, available up to 75% LTV, comes with a rate of 5.94% and a product fee of £1,995, while the five-year fix, also available up to 75% LTV, comes with a rate of 5.59% and a product fee of £4,995.
There is a maximum loan amount of £1.5 million for each product.
Foundation’s current service levels continue to average turnaround times of one day for DIP referral, application and underwriter review for all cases.
George Gee, Managing Director (Commercial) at Foundation Home Loans, said: “Foundation is always looking at product options for landlord borrowers, particularly when it comes to fixed-rates where customers are able to be crystal clear on their monthly mortgage payment amounts, in this case, over a two- or five-year period. With these Limited Edition specials we’ve been able to offer competitive fixes with a fixed product fee, which will help manage upfront costs while also helping some landlords in terms of any affordability challenges they might be having. We’ll continue to look regularly at what we can offer in the buy-to-let space and continue to support advisers who have landlord clients with more complex and specialist needs.”