Foundation Home Loans refreshes full product ranges and increases maximum LTV to 80% in buy-to-let and 85% in owner-occupied

31 May 2023

Foundation Home Loans, the intermediary-only specialist lender, has today refreshed all products within its core buy-to-let and owner-occupied ranges for both purchase and remortgage, and launched a number of new options up to 80% LTV within the buy-to-let range and 85% LTV within owner-occupied.

The core ranges launch with rates starting at 6.79% for F1 to F3 buy-to-let products for individual, portfolio and limited company landlords, including Green, Short Term Let, HMO and Expat options.

Foundation is now offering up to 80% LTV on its core F1 buy-to-let range with a two-year fixed-rate available at 7.44% and a five-year fixed-rate available at 7.24%. Both products come with a fixed £1,995 fee.

The lender is also offering a F1 Green five-year fixed ABC+ product – for borrowers purchasing or remortgaging properties which have an EPC level of C or above – at 75% LTV priced at 6.69%. This product comes with a 1.25% fee, a free valuation and no application fee.

In its owner-occupied range, Foundation is offering products across all its F1 to F4 tiers, with rates starting at 6.84%

Foundation is also now offering a pair of new F1 two- and five-year fixed rate products available up to 85% LTV, with a flat £995 fee. The F1 two-year fixed rate is available at 7.59%, while the five-year is at 7.69%.

Green ABC+ products for owner-occupied are also available at both 75% and 80% LTV, with rates starting at 7.14% for the two-year fix and 7.24% for the five-year fix – fees are fixed at £995 and the products come with a free standard valuation.

Foundation’s current service levels continue to average turnaround times of one day for DIP referral, application and underwriter review for all cases.

Tom Jacob, Director of Product and Marketing at Foundation Home Loans, said:
“Last week, due to a significant amount of volatility in the money markets, we took the difficult decision to withdraw our core range products, committing to replacing them as quickly as possible.

“We are pleased to now replace them with repriced products for both buy-to-let and owner-occupied, and also the addition of new higher loan-to-value tiers.

“Our core buy-to-let range will now include 80% LTV two- and five-year fixed-rate product options for our F1 borrowers, while there are 85% LTV fixed-rate options for F1 owner-occupied borrowers.

“On top of this, we are also adding more 65% LTV fixed-rate owner-occupied products for F1 and F2 tiers, that will allow borrowing up to £2m.

“We hope the swift reintroduction of our core product range will provide advisers and their specialist clients with a new array of options to choose from and help them find the solutions these borrowers need.

“Foundation currently has excellent service levels and we are here to support the intermediary sector and would urge advisers to contact us to see how we can provide all they need to service both their specialist buy-to-let and owner-occupied client base."

For more information on Foundation Home Loans, please visit: www.foundationforintermediaries.co.uk