The five-year fixed-rate has a flat product fee of £1,995 and is available for both purchase and remortgage mortgage loans between £250k and £1m, for buy to let, limited company buy-to-let customers, and portfolio landlords alike.
The ICR is calculated at the pay-rate of 3.04% for this five-year fix, stress tested at 125% for limited companies and basic-rate taxpayers and 145% for all other borrower types.
George Gee, commercial director at Foundation Home Loans, said:
“’Tis the season to be jolly and at Foundation we want to sprinkle a little joy throughout December with the launch of this new ‘Festive Fixed Rate Special’. This fits within our F1 range for those landlords with near-mainstream credit who are looking for larger loan sizes between £250k and £1m."
“As this product, much like the festive season, unfortunately won’t be around forever, we would urge advisers to contact us if they have suitable clients.”
