Foundation Home Loans launches Limited Edition ‘No fee’ owner-occupied remortgages and BTL flat-fee mortgages
As of today, Thursday 9th September, Foundation Home Loans have added new Limited Edition two-year and five-year fixed rate products to both their owner-occupied and buy-to-let mortgage ranges.
The ‘no-fee’ owner-occupied rates are for remortgage only and have no product fee, no application fee and come with one free standard valuation.
- For Re-mortgages
- ‘No fee’: no product fee, free standard valuation and no application fee
- 2-year fixed rate 3.19%
- 5-year fixed rate 3.49%
- Up to 75% LTV
- Available on capital and interest only
- Minimum £200k loan size
The buy-to-let products can be used for purchases as well as remortgages, and with the flat product fee of £1,995 are highly competitive on ‘total cost’ and particularly to landlords with larger loan amounts.
Buy to Let
- For Purchases and Re-mortgages
- Flat product fee of £1,995
- 2-year fixed rate 2.94%
- 5-year fixed rate 3.14%
- Up to 75% LTV
- Available to Individual landlords and Limited Company
‘Fee-free’ and ‘No fee’ in this case means no product fee, no application fee and one free valuation – however please ensure your client is aware that there are always other possible fees that will be incurred as part of a property purchase/remortgage.
Why use Foundation for your next BTL case?
- Individual or limited company
- Limited companies with complex structures
- Up to 4 directors
- Newly incorporated limited companies acceptable
- ICR of 125% for limited company borrowers and basic rate taxpayers and 145% for others
- No minimum term of employment/self-employment and no minimum income
- Up to 80% LTV on core range
- Loans up to £2m on core range
- No limit to portfolio size, subject to max borrowing of £5m with Foundation
- Cater for specialist properties such as HMOs, short term lets and Multi Unit Blocks
- HMOs range: up to 8 bedrooms and MUBs: up to 10 units
- Products for first time landlords
- Ex-pats considered for limited companies only
- Green Mortgages available for purchase and remortgage
Why use Foundation for your next specialist residential case?
- For Self-employed – directors, partners and contractors; retained profits considered
- Employed – no minimum term in current job (minimum 3 months employed)
- Clients with multiple and unusual income sources
- Lower credit scores
- First time buyers
- No minimum income
- Maximum loan £2m
- Maximum term 40 years and maximum age 75 at end of term
- Maximum number of applicants is 4 (immediate family)
- Capital and interest repayment mortgages up to 90% LTV
- Capital raising for buy to let purchase accepted
- Part and part up to 80% LTV