The product has a rate of 6.69% with a £2,995 flat fee
Specialist lender Foundation Home Loans has announced the addition of a new limited edition five-year fixed rate product to its buy-to-let range.
The intermediary-only lender’s new five-year deal is an F1 tier product, for those with an almost clean credit history, and available for both individual landlord borrowers and limited companies.
With a rate of 6.69%, the product is offered up to 75% loan-to-value (LTV) with a flat fee of £2,995.
“Even prior to the publication of the latest inflation figures, we were seeing an easing of swap rates off their most recent highs,” Tom Jacob (pictured), director of product and marketing at Foundation Home Loans, stated in a post announcing the product launch. “As a result of this shift, we are able to launch this limited edition five-year fix for buy-to-let borrowers at a keener rate.
“Five-year fixes remain popular in terms of both meeting affordability measures, ensuring borrowers can secure the right loan amount and in terms of providing monthly mortgage payment certainty. This product is available up to 75% LTV with a flat fee, plus it comes with a maximum loan amount of £1.5 million.
“As always, we keep a very close eye on the money markets and the sector itself, to ensure that, if the direction of travel remains the same, we can take the opportunity to provide competitive product options. Our current service levels are excellent, and we are here to support advisers across all their specialist lending needs.”
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