Foundation Home Loans launches new fee-assisted buy-to-let range

Foundation Home Loans has launched a number of new products, including fee-assisted options for purchase and remortgage, two fixed-fee HMO and multi-unit blocks (MUB) deals, in addition to rate reductions on its 80% LTV products.

Related topics:  Mortgages
Rozi Jones
18th May 2021
George Gee Foundation
"Our fee-assisted options have proved very popular amongst advisers and their landlord clients, as they allow borrowers to keep their upfront costs low"

The fee-assisted options – which all come with a fixed £1,495 fee, one free valuation, no application fee and £250 cashback - are available to both individual and limited company landlord borrowers up to 75% LTV on a purchase or remortgage basis. Two-year fixed rates start at 3.39% and five-year fixes at 3.59% up to 65% LTV, with 75% LTV rates starting at 3.59% and 3.74% respectively.

Foundation is also launching new standard HMO (up to six occupants) and large HMO/MUB five-year fixes at 75% LTV, available to limited company and individual landlords, which start at 3.79% and come with a fixed £1,495 fee.

Additionally, Foundation has reduced rates on its 80% LTV two and five-year individual and limited company buy-to-let products to 3.79% from 3.99% and 4.29% from 4.49% respectively.

ICR is calculated at 125% for limited company mortgages at pay rate for the five-year fix, and at the notional rate of 5.5% on the two-year fix.

George Gee, commercial director at Foundation Home Loans, said: “Our fee-assisted options have proved very popular amongst advisers and their landlord clients, as they allow borrowers to keep their upfront costs low and access highly-competitive pricing, whether for an individual or limited company, and whether focused on standard properties or HMOs.

“In particular, we believe these new fee-assisted products will appeal to those landlords seeking to purchase multiple properties, as we have widened their availability to both purchasers and those remortgaging. Our new HMO/MUB fee-assisted deals should also support landlords who want larger-value, higher-yielding properties without paying a percentage-fee.

“Overall, it’s clear there is a very strong ongoing demand from landlord borrowers for a specialist approach to underwriting and our commitment to keeping landlord costs low will continue as we seek to ensure Foundation’s broad buy-to-let range serves intermediaries advising in this space.”

More like this
Latest from Property Reporter
Latest from Protection Reporter
CLOSE
Subscribe
to our newsletter

Join a community of over 30,000 intermediaries and keep up-to-date with industry news and upcoming events via our newsletter.