Product update: BTL 5 year fixed rate - 75% LTV - Reduced rate
As of the morning of Thursday 28th of January Foundation Home Loans will:
- Withdraw 2 product of the 75% LTV 5 year fixed rate F1 products
- Re-introduce these two products with new lower rates and short-codes.
5-year fixed rate reduced by 10bps on specialist buy-to-let
On Thursday 28th January, Foundation are reducing one of our best-selling rates, the 5-year 75% LTV buy-to-let fixed rate in the F1 tier for clients who just miss out on mainstream credit.
- 5 year fixed to 75% LTV with a 2% fee – reducing by 10bps from 3.54% to 3.44%.
This highly-competitive 5-year rate is designed to support landlords looking for a more generous loan for their rent, as Foundation ICR is calculated using the pay rate with a 5 year fix or the notional rate of 5.5% for shorter rates and at only 125% for Limited Companies and basic rate tax payers, and 145% for all other borrowers.
- Available for individuals as well as limited companies
- For clients who just miss out on mainstream credit scores
- £1m maximum loan size
- No limit to the background portfolio size, subject to a maximum of £3m with us
Additionally, since 7th January, all Foundation Home Loans products now operate on a rolling end date basis, so this product comes with the benefit of the initial rate for the full 5-year term from completion.