According to the lender, the BTL 5 Year Fixed Remortgage Special package will offer a free standard valuation (not Homebuyers Report or Structural Survey) per application, and £250 cashback paid following completion. To further help with remortgage costs, the product fee will be reduced from 2% to 1.75%. It will be available to all landlords, including portfolio landlords and limited companies.
Available across its distribution network, 5 Year Fixed Rates start at 3.59%, with LTVs at the upper bands of 65% and 75%.
Andrew Ferguson, Commercial Director at Foundation Home Loans, said: “The buy to let market continues to be driven by remortgage activity, and wider market analysis tells us remortgages were more than double the amount of purchases in June this year. Recognising this and our own remortgage activity as a key driver, we are confident our short-term incentive package will help keep remortgage costs down for landlords.”
