Foundation launches 2.99% five year buy to let rate
01 August 2017
Foundation Home Loans has today announced a 5 year fixed rate limited edition offer on its Buy to Let Standard Range, available to both individuals and limited companies
The offer is aimed at experienced landlords with two options: a 2.99% fixed rate with a 2% arrangement fee or a 3.39% fixed rate with a flat fee of £995, both at 65% LTV
Foundation Home Loans is a specialist lender, available only through intermediaries and designed for clients with more complex needs. It has also now launched its residential product range in addition to its established buy-to-let proposition
Jeff Knight, Marketing Director, Foundation Home Loans, said: “These Limited Edition products are based on feedback from our intermediary partners, and designed to offer choice with the two 5 Year Fixed rate alternatives. With the rental calculation based on the pay rate, these products will be appealing to experienced landlords, including Limited Companies and those with large portfolios.”
Product Details
|
Rate |
Arrangement Fee |
Max LTV |
ICRs |
ERCs |
|
|
Limited Companies |
Individuals |
|
|||
|
2.99% |
2% |
65% |
125% x pay rate |
145% x pay rate |
5%/4%/3%/2%/1% |
|
3.39% |
£995 |
65% |
|||
Key Points
Rental calculation based at pay rate
Minimum loan £50k; Maximum loan £500k
No minimum income
No maximum age for Limited Company applicants
Not available to first time landlords
