Foundation Home Loans launches new buy-to-let Specials for Landlords

21 September 2023

Foundation Home Loans, the intermediary-only specialist lender, has today launched a new range of buy-to-let fixed-rate Specials including a five-year fixed-rate product for Portfolio Landlords only.

In its F1 range – for landlord borrowers with an almost clean credit history – Foundation is offering a range of new fixed-rates, including a Portfolio Landlord-only five-year fixed-rate Special, available at 5.79% (65% LTV) and 5.89% (75% LTV). This product comes with a 5% fee, a free valuation and no application fee.

Foundation allows portfolio landlords to have an unlimited number of properties within their total portfolio and its maximum aggregate borrowing on Special products is limited to £3m.

Other F1 Special products - available to all landlord borrowers - include a two-year fixed-rate mortgage, available at 6.04% (65% LTV) and 6.19% (75% LTV); and five-year fixes at 6.34% (65% LTV) and 6.39% (75% LTV). All come with a 3% fee.

Foundation also has Specials launching in its F2 range – for landlord borrowers financing a more specialist property and/or those with historical blips on their credit rating – of new-fixed rates, including:
• Two-year fixed-rate products, available at 6.14% (65% LTV) and 6.29% (75% LTV); and five-year fixed-rates, available at 6.44% (65% LTV) and 6.49% (75% LTV).
• HMO Specials – for properties up to six occupants – with the two-year fixed-rate available at 6.24% (65% LTV) and 6.39% (75% LTV); and a five-year fixed-rate available at 6.54% (65% LTV) and 6.59% (75% LTV).

All F2 new Special products come with a 3% fee.

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:
“These new Specials are, with the exception of our specific five-year fix for Portfolio Landlords only, available to all landlord borrowers and our aim is to broaden the range of mortgage options for those who are either looking to purchase or seeking to refinance.

“There has been a considerable growth in the number of portfolio landlords in recent years, and from what we are seeing in the market, they still have a strong appetite to both grow portfolios and to explore remortgage options in order to do this. This specific five-year fix for portfolio landlords also benefits from a free valuation and no application fee, cutting down significantly on the upfront costs which could be beneficial if looking to refinance multi properties

“These new buy-to-let Specials not only cover standard products but we are also catering for those looking at their HMO finance options. Overall, we believe this new range of Specials will appeal to a wide landlord demographic and we urge advisers to review these options for their client base.”

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