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On Tuesday 13th July, Foundation Home Loans made improvements to their buy to let range.
1 A new Limited-Edition Portfolio Landlord F1 5year fixed rate exclusively for portfolio landlords (those with 4 properties or more):
· 5 Year fixed to 75% LTV
· One free standard valuation and no application fee
· For both purchase and remortgage
· For individuals and limited companies
· Max loan £750k, min loan of £50k
· Portfolio Landlords only
· No limit to portfolio size, subject to max borrowing of £5m with Foundation
Foundation now offer streamlined document requirements when the portfolio is submitted at the outset, and landlord borrowers benefit from pre-underwritten facility to add to their portfolio within six months.
2. Foundation are increasing the loan to value on the F2 range to 80% with a new range of 5-year fixed rate products, including for HMOs and large HMOs and MUBs, available on a purchase or remortgage basis, for limited companies or individual landlords. These new products have a £1,495 flat product fee.
