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.
FOUNDATION HOME LOANS EXPAND GREEN RANGE TO INCLUDE LARGE HMOS AND MUBS, AND F2 PRODUCTS
As of Tuesday 14th June 2022, Foundation Home Loans have made several changes to their Buy to Let product range including:
- Expansion of the Green mortgage range to include large HMOs (Up to 8 bedrooms) and MUBs (up to 10 units) with a new ‘Large HMO/MUB’ product available up to 75% LTV, fixed at 4.39% for 5 years, with a fee of 1.25% and one free standard valuation and no application fee – for both purchases and remortgages of properties with an EPC of C or above
- A new Green product for standard properties in the F2 range for applicants with some historical credit blips – available up to 75% LTV, fixed at 4.24% for 5 years, with a fee of 1.25% and one free standard valuation and no application fee – for both purchases and remortgages of properties with an EPC of C or above
- The product fee on the Large Loan product (F1 tier) has been halved to 1% – and now priced at 3.99% fixed for 5 years and available for maximum loans of £2m up to 65% LTV
- Repricing of all other fixed rate products across the buy to let range
As with all of Foundation’s Green mortgage range, the new Green large HMO/MUB product and the F2 Green product are both eligible for ‘early remortgage’ after purchase, as opposed to the typical 6-month wait – a feature especially designed to help those landlords who may have carried out improvements on the properties to raise the EPC above a level C.
At Foundation, rental cover for 5-year fixed rates is calculated at pay rate, and stress tested at 125% for limited companies and basic rate tax payers, and 145% for other landlord types.
You can find out more by checking out the latest product guide today.