Rates start from 5.79%
Specialist lender Foundation Home Loans has launched a new range of buy-to-let fixed rate specials, including a five-year fixed rate product exclusive for portfolio landlords.
On the lender’s F1 range, a range of new fixed rates is available, including a portfolio landlord-only five-year fixed rate special, priced at 5.79% for 65% loan-to-value (LTV) and 5.89% for 75% LTV. The product comes with a 5% fee, a free valuation, and no application fee.
The intermediary-only lender allows portfolio landlords to have an unlimited number of properties within their total portfolio, and its maximum aggregate borrowing on special products is limited to £3 million.
Available to all landlord borrowers are other F1 special products, which include a two-year fixed rate mortgage with rates of 6.04% for 65% LTV and 6.19% for 75% LTV, and a five-year fix with rates of 6.34% for 65% LTV and 6.39% for 75% LTV. All come with a 3% fee.
Foundation also has new specials on its F2 range, including two-year fixes at 65% and 75% LTV with rates of 6.14% and 6.29%, respectively, and five-year deals at 65% and 75% LTV with rates of 6.44% and 6.49%, respectively.
There are also house in multiple occupation (HMO) specials for properties up to six occupants, with the two-year fixed rate available at 6.24% for 65% LTV and 6.39% for 75% LTV, and a five-year fixed rate available at 6.54% for 65% LTV and 6.59% for 75% LTV. All F2 new special products also come with a 3% fee.
“These new specials, with the exception of our specific five-year fix for portfolio landlords only, are available to all landlord borrowers, and our aim is to broaden the range of mortgage options for those who are either looking to purchase or seeking to refinance,” said Tom Jacob (pictured), director of product and marketing at Foundation Home Loans.
“There has been a considerable growth in the number of portfolio landlords in recent years, and from what we are seeing in the market, they still have a strong appetite to both grow portfolios and to explore remortgage options in order to do this.
“This specific five-year fix for portfolio landlords benefits from a free valuation and no application fee, cutting down significantly on the upfront costs which could be beneficial if looking to refinance multi properties. These new buy-to-let specials not only cover standard products, but we are also catering for those looking at their HMO finance options.
“Overall, we believe this new range of specials will appeal to a wide landlord demographic, and we urge advisers to review these options for their client base.”
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