3mc trials Foundation Home Loans’ limited company product

20 October 2015

3mc, the Cheshire based national packager and mortgage club, has announced that it is trialling Foundation Home Loans’ (FHL) new limited company product, ahead of a formal launch in November.

The product covers a range of six fixed rate options over 2, 3 and 5 years starting at 4.19% for 2 years up to 65% LTV.

With competitive rates and features such as allowing clients to purchase an existing property in a company name using a director’s loan, FHL’s move into the limited company sector of BTL marks another step in the evolution of a dynamic and broker friendly product range.

According to 3mc’s Managing Director, Doug Hall, using a limited company BTL option is already becoming a very important option for landlords.

He said, “We are delighted to be trialling this new product range for FHL. The effect of the Chancellor’s move to restrict tax relief will accelerate the need for more established landlords to look carefully at how they best manage their portfolios in a way that continues to maximise rental yields and minimise costs. These products from FHL will provide new options for brokers with landlord clients.”

Paul Brett, Business Development Director at FHL commented, “It was clear from our introducers, even before the Chancellor’s announcement, that a limited company product option would make an important addition to the FHL portfolio. We listened and the result is, in my opinion, one of the best offerings in the market.”