Foundation Home Loans has updated its range across the direct to lender and packaged range. Brilliant Solutions offers fees free packaging across the range as well as direct to lender access with payment on completion.
New 2- and 5-year fixed rates for portfolio and limited company BTLs
Foundation Home Loans has released two new highly competitive 2- and 5- year fixed rates in their F1 near-mainstream range (F1) for portfolio and non-portfolio landlords, individuals and limited companies who just miss out on mainstream eligibility.
These products are available up to 75% LTV each with a 2% fee.
Why Foundation?
- Rental cover is stress tested at just 125% for limited companies and basic rate tax payers and 145% for others, calculated at the notional rate of 5.5% on the two-year fix and at pay rate for the 5-year fix.
- Clients committing to the security of a 5-year fixed rate could access more generous loan amounts depending on rental income, as ICR is based on pay rate of 5-year fixes at Foundation.
For your limited company mortgages:
- Newly incorporated limited companies / SPVs acceptable
- Experts in complex company structures
- No maximum age
And for your portfolio landlords:
- No business plans or asset and liability statements needed
- Quick apply: Landlords remain underwritten for 6 months
- No limit to the background portfolio size, subject to a maximum of £3m with us