New special product is being offered with a lower rate, higher fee option
Intermediary-only specialist lender Foundation Home Loans has, added to its buy-to-let portfolio a new special product for landlords.
The announcement follows the cutting of rates at the end of November on Foundation’s other specials in both the buy-to-let and owner-occupied ranges.
The new products are for Foundation’s F1 tier, or for borrowers with a clean credit history, and are five-year fixes. At 65% LTV, the rate is 5.24% and at 75% LTV the rate is 5.34%. Also, both come with a 6% fee.
With Foundation, portfolio landlords are given a maximum loan exposure of £5 million, while the maximum aggregate borrowing on its special products is £3 million.
“Portfolio landlords are a key borrower demographic within buy-to-let, and much of the property supply within the private rental sector is reliant on these borrowers, their properties, and their commitment to delivering more housing,” said Tom Jacob, director of product and marketing at Foundation.
“These new products are specifically for portfolio landlords and come with a lower rate, higher fee option, in order to help them meet affordability, and to support their purchase or refinance needs. The launch of these new options comes swiftly after price cuts to our other buy-to-let specials as we continue to support advisers and their landlord clients.
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