New HMO and Multi-Unit Freehold Block products added to ‘Buy to Let by Foundation’ range
09 October 2024
‘The ‘Buy to Let’ brand of specialist lender, Foundation Home Loans, has today (9th October 2024) announced a number of new product additions to its range covering larger HMOs, Multi-Unit Freehold Blocks (MUFBs) and selected mortgages for expats.
From today, advisers will have access to new products covering these sectors via the ‘Buy to Let by Foundation’ online portal.
At the same time, the lender is announcing the launch of a number of new products including:
• F1 – for clients with an almost clean credit history – Expat five-year fixed-rate mortgage, available up to 75% LTV, with a rate of 5.99% and a 1.5% fee.
• F2 – for clients financing a more specialist property type and/or those with some historical blips on their credit rating – Expat holiday lets, five-year fixed-rate mortgage, available up to 75% LTV, with a rate of 6.59% and a 2% fee.
The lender is also announcing a number of new rates on existing products, including:
• F1 Green Expat five-year fixed-rate mortgage – for properties with an A-C EPC – available up to 75% LTV with a rate of 5.99%. The product has a 1.25% fee but no application fee and comes with a free valuation.
• F2 Expat Standard, HMO and MUFB five-year fixed-rate mortgages, with rates reduced by 0.5%, and starting at 6.09%.
• F2 Large HMOs two- and five-year fixed-rate mortgages, with rates reduced by up to 0.4%, and starting at 6.19%, with a 2% fee.
• F2 MUFBs two- and five-year fixed-rate mortgages, with rates reduced by up to 0.3%, and starting at 5.99%, with a 2% fee.
‘Buy to Let by Foundation’ said the introduction of these specific HMO, MUFB and Expat products into its range would allow advisers to provide their landlord borrower clients with a more comprehensive selection of products, tailored to their needs.
The full ‘Buy to Let by Foundation’ Product Guide can be viewed at: https://www.foundationforintermediaries.co.uk/buy-to-let/btl-documents/
Tom Jacob, Director of Product and Marketing at Foundation Home Loans, said:
“The addition of larger HMOs, MUFBS and Expat products to our core ‘Buy to Let by Foundation’ range is a big step forward for the brand, providing access to a wider range of options for all landlord clients, but particularly those portfolio players who are looking to add or refinance such properties.
“We’re aware of many professional landlords with substantial portfolios who either have HMOs or MUFBs already, or are looking to purchase, or indeed are looking to change existing properties to higher-yielding, multi-tenanted ones.
“Adding these to our range, widens the options in such areas, plus we have added specific Expat borrower products covering both traditional lets but also holiday, HMO and MUFB as well. Overall, we believe these new additions will be welcome news for advisers active in the buy-to-let space as we seek to support the ongoing wants and needs of the landlord population.”
For more information on Foundation Home Loans, please visit: www.foundationforintermediaries.co.uk
