New Limited Edition Limited Company BTL 2 year fixes from Foundation
Foundation has launched two Limited-Edition 2-year fixed rates with reduced product fees for standard properties and HMOs exclusively for Limited Company buy to let applications, and available to landlords who just miss out on mainstream credit criteria on a purchase or remortgage basis.
- Reduction of 0.10% against the core range
- Product fees are reduced to 1%
- Available up to 75% LTV
- Up to £1m maximum loan size
- No limit to the borrower’s background portfolio size, subject to a maximum of £3m with Foundation.
Foundation’s BTL fixed rates are designed to support landlords looking for a more generous loan for their rent, as ICR is stress tested at only 125% for Limited Companies and calculated at the notional rate of 5.5% for 2-year fixed rates.
George Gee, Commercial Director at Foundation Home Loans, said:
Over the past five years, a consistent two in ten landlords have utilised limited companies to purchase properties in their portfolio, and we anticipate that this cohort of landlords will be highly active this year.
2021 is shaping up to deliver a high-demand private rental sector, and these reduced rates should support intermediaries in offering highly-competitive choices to those landlords