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.
- 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