It also refreshes its BTL and owner-occupied core ranges
Specialist lender Foundation Home Loans has introduced new remortgage-only buy-to-let products, available with cashback.
The lender’s new buy-to-let remortgage-only products are available within its F1 tier, which is for clients with an almost clean credit history. It is also available in the F2 tier, or those for clients financing a more specialist property type and/or those with some historical blips on their credit rating.
Products included within Foundation’s new remortgage-only range cover F1 five-year fixed rates, available up to 80% loan-to-value (LTV) with rates starting from 7.29%, and F2 five-year fixed-rates, available up to 75% LTV, with rates starting from 7.44%. The remortgage-only products come with a £1,295 fixed fee, a free standard valuation, no application fee, and a £500 cashback.
The intermediary-only lender has also refreshed its buy-to-let and owner-occupied product rates, and announced that all products which are part of its Professionals mortgage range now come with one free standard valuation. The Professionals range allows first-time buyers, home movers, and remortgagers in eligible professions to borrow up to six times their income.
“Remortgage activity remains a very strong source of business for advisers and, within buy-to-let in particular, we wanted to acknowledge this by launching specific remortgage-only products, that come with a number of added extras, including a low product fee, but also free valuations and cashback to help landlord borrowers,” said Tom Jacob (pictured), director of product and marketing at Foundation Home Loans.
“At the same time, we’re also refreshing both our buy-to-let and owner-occupied product ranges, and supporting our Professionals borrowers by introducing a free valuation on these products, which have proved very popular offering higher income multiples.
“Our products are there to support as wide an array of specialist mortgage borrowers as possible, and we’ll continue to look at opportunities within both our buy-to-let and owner-occupied ranges, in order to keep adding product choice and ensuring borrowers have access to the finance they need.”
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