FHL cuts rates and simplifies arrangement fees
13 September 2016
Foundation Home Loans (FHL), the Bracknell based BTL lender, has cut rates across the range and has further simplified its criteria by moving to a fixed percentage of the loan amount as an administration fee, regardless of loan size.
Main features include :-
- Rates reduced by up to 0.8% (Light Adverse 5 year fixed now at 4.39%)
- Arrangement fee simplified to a set 2% of the loan amount across the range
According to Paul Brett, Business Development Director at FHL, the market is becoming more competitive.
He said, “Our partners are telling us that they expect a positive core of BTL enquiries running into the end of the year, even though there has been a dip in activity in the wake of the loss of stamp duty. It is important that at FHL we are always looking at ways to provide the most cost effective funding to ensure that there is encouragement for landlords to continue investing.
Our move on cutting rates is matched by the further simplification to criteria. In this case, arrangement fees are now simply set at 2%, regardless of loan size. Along with the successful deployment of the first stage development of our online portal for enquiry and application, which has received plenty of positive feedback, FHL’s BTL proposition offers our introducers and their landlord clients significant benefits.
We look forward to meeting advisers wanting to talk about BTL on our new stand at FSE London on Wednesday.”
