Foundation Home Loans launches new fee-assisted BTL mortgages and fixed-fee HMO/MUB products
18 May 2021
Foundation Home Loans, the intermediary-only specialist lender, has today (18th May 2021) launched a number of new products, including fee-assisted options for purchases as well as remortgages, two fixed-fee HMO and multi-unit blocks (MUB) deals, in addition to rate reductions on its 80% LTV products.
The fee-assisted options – which all come with a fixed £1,495 fee, one free valuation, no application fee and £250 cashback - are available to both individual and limited company landlord borrowers up to 75% LTV on a purchase or remortgage basis. Rates include: 3.39% fix for two-years and 3.59% for five-years to 65% LTV; and 3.59% fix for two-years and 3.74% fix for five-years to 75% LTV.
Foundation is also launching new standard HMO (up to six occupants) and large HMO/MUB five-year fixes at 75% LTV, available to limited company and individual landlords, which start at 3.79% and come with a fixed £1,495 fee.
On top of this, Foundation has reduced rates on its two- and five-year, 80% LTV, individual and limited company buy-to-let products to 3.79% from 3.99 and 4.29% from 4.49% respectively.
ICR is calculated at 125% for Limited Company mortgages at pay rate for the five-year fix, and at the notional rate of 5.5% on the two-year fix.
George Gee, Commercial Director at Foundation Home Loans, said:
“Our fee-assisted options have proved very popular amongst advisers and their landlord clients, as they allow borrowers to keep their upfront costs low and access highly-competitive pricing, whether for an individual or limited company, and whether focused on standard properties or HMOs.
“In particular, we believe these new fee-assisted products will appeal to those landlords seeking to purchase multiple properties, as we have widened their availability to both purchasers and those remortgaging. Our new HMO/MUB fee-assisted deals should also support landlords who want larger-value, higher-yielding properties without paying a percentage-fee.
“Overall, it’s clear there is a very strong ongoing demand from landlord borrowers for a specialist approach to underwriting and our commitment to keeping landlord costs low will continue as we seek to ensure Foundation’s broad buy-to-let range serves intermediaries advising in this space.”
For more information on Foundation Home Loans, please visit: www.foundationforintermediaries.co.uk
