Foundation unveils new product range

New products are specifically designed for landlords buying or refinancing multiple properties under one title

Foundation unveils new product range

Intermediary-only specialist lender Foundation Home Loans has introduced a new range of products, designed for landlords interested in purchasing or refinancing properties grouped under a single title.

The new products fall under the Solutions by Foundation brand, targeting a niche segment of the buy-to-let market with specific needs, such as properties with multiple occupancy, mixed-use properties, and expatriate borrowers.

The ‘Multiple Properties Under One Title’ products are available to individual investors, portfolio landlords, and corporate entities. They cater for properties rented out on various bases, including standard Assured Shorthold Tenancies, short-term rentals, and holiday lets.

Foundation’s lending criteria allow for financing up to four discrete units or properties within one freehold title, addressing needs that range from converted farm buildings for residential leasing to up to four apartments within a single building.

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The product suite features two- and five-year fixed rate options, with loan-to-value (LTV) ratios of 65% and 75%. Interest rates begin at 6.69% for two-year fixed rate loans and 6.54% for five-year fixed rates, accompanied by a 2% product fee. The maximum loan amount is set at £3 million for 65% LTV and £2 million for 75% LTV loans, with a minimum threshold of £100,000.

“By launching ‘Solutions by Foundation’ at the start of year, we have been able to look at more specialist lending requirements and to offer specific products that fit these niche areas, but are increasingly in demand,” said Tom Jacob (pictured), director of product and marketing at Foundation Home Loans.

These new products for landlords seeking to either buy or remortgage ‘Multiple Properties Under One Title’ fit that particular billing, and not only can we offer them for standard buy-to-let AST rental agreements, but we can also cover both short-term lets and holiday lets, which we believe is a strong offering within this particular sector of the PRS.

“Increasingly, landlords are looking at ways to broaden their portfolio, increase their yield, and focus on different areas of the rental sector. The concept clearly has similarities with existing multi-unit freehold blocks, but in this scenario, we can lend on up to four dwellings or separate houses or flats on just the one title.

“We’ll continue to look at opportunities such as these within the ‘Solutions by Foundation’ range and would urge advisers to look at our more traditional buy-to-let product range plus these specialist options in order to provide a full range of options to their landlord clients.”

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