Foundation cut selected BTL rates and launch new HMO and fee-assisted products
Now you can access fee assisted buy-to-let mortgages for purchases as well as remortgages with a flat product fee of £1,495.
Foundation has launched a number of new products, including fee-assisted options for purchases as well as remortgages, and two HMO and multi-unit blocks (MUB) deals. Other selected rates are cut by 0.20%. All are available to both individual and limited company landlord borrowers.
- Purchase or remortgage acceptable
- Flat £1,495 fee
- 39% fix for two-years and 3.59% for five-years to 65% LTV
- 59% fix for two-years and 3.74% fix for five-years to 75% LTV
New HMO/MUB products standard HMO (up to six occupants) and large HMO (8 bedrooms)/MUB (10 units)
- Five-year fixes start at 3.79% at 75%
- Limited company and individual landlords
- Flat £1,495 fee
Reduced rates on selected 80% LTV buy-to-let products
- 2-year fixes cut to 3.79% from 3.99% with a 2% fee
- 5-year fixes cut to 4.29% from 4.49% with a 2% fee
Generous loan amounts
Foundation offers one of the sector’s most generous ICR calculations at pay rate for the 5-year fixed product, and at the notional rate of 5.5% on a 2-year fix, stress tested at 125% for Limited Companies and basic rate tax payers and 145% for other landlords.
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
- Loans up to £2m
- No limit to portfolio size, subject to max borrowing of £3m with us
- Cater for specialist properties such as HMOs, short term lets and Multi Unit Blocks
- HMOs: 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 the remortgage of properties with an EPC rating of C or above
BTL Product Refresh
As of the morning of the 18th of May Foundation Home Loans will:
- Withdraw the 16 BTL products
- Re-launch four of the withdrawn products with lower rates
- Launch 12 new products; 8 of which come with 1 free val, cashback of £250 and the £125 app fee waived
The details in this email together with the attachment should not be shared with any external parties (except sourcing) until after the release date.