NEW GREEN RESIDENTIAL AND BUY TO LET FIXED RATES – FOUNDATION HOME LOANS
Thursday 14th October, Foundation Home Loans are launching new fixed rate products as part of their Green range available for both Residential and Buy to let, with incremental rates and cashback depending on the EPC rating of the property.
1. BTL F1 Green ABC+ 5 year Fixed
- 5 year fixed rates
- 3.14% to 75% LTV and £750 cashback for EPC ‘A’ rated properties
- 3.19% to 75% LTV and £500 cashback for EPC ‘B’ rated properties
- 3.24% to 75% LTV and £250 cashback for EPC ‘C’ rated properties
- Reduced product fee of 0.5%
- Available to individuals and limited companies
- Available for portfolio and non-portfolio landlords
- For purchase and re-mortgage (including early re-mortgaging)
ICR rental cover is calculated at pay rate on five-year fixed rates at Foundation, and stress tested at 125% for limited companies and basic rate tax payers or 145% for other landlord types.
2. Residential F1 Green ABC+ 2 year Fixed
- 2 year fixed rates
- 3.04% to 75% LTV and 3.84% to 85% LTV and £750 cashback for EPC ‘A’ rated properties
- 3.09% to 75% LTV and 3.89% to 85% LTV and £750 cashback for EPC ‘B’ rated properties
- 3.14% to 75% LTV and 3.94% to 85% LTV and £750 cashback for EPC ‘C’ rated properties
- Reduced product fee of £595
- For purchase and re-mortgage
- Offered on a capital and interest repayment basis
Foundation’s existing buy to let Green 2 year discount products with no ERC for purchases are still available.
Foundation Home Loans continue to support mortgage intermediaries with innovative green mortgages designed for those landlords and owner-occupiers making choices to reduce their environmental impact.