As of today (Tuesday 6th September 2022), Foundation Home Loans has launched a set of Special Edition Green Buy to Let 2-year discount products for purchase and remortgage. The features of
these products include:
- Green Buy to Let 2-year discounts to 75% LTV
- F1 – 3.49% (3.25% discount)
- HMO (up to 6 occupants) – 3.74% (3% discount)
- STL – 3.84% (2.9% discount)
- 1.5% product fee
- ERC Free
- Eligible for properties with an EPC of A-C
- Increased £1.5m max loan
The Special Edition Green Buy to Let 2-year discount products are available for both limited companies and individuals looking to either remortgage or purchase. They also have an enhanced maximum loan size of £1.5m at 75% LTV to benefit those landlords looking to borrow more at 75% LTV for their EPC A-C rated property.
In addition to this new product set, Foundation has current turnaround times of 1 day for DIP referral, application and underwriter review.
George Gee, Managing Director (Commercial) at Foundation Home Loans, said:
“In the recent Q2 iteration of the BDRC landlord panel survey, almost two-thirds of landlords (63%) planning to purchase property in the next 12 months were suggested to be looking for a property rated A-C and 53% of landlords who had bought a property in the last three months have bought properties with an EPC A-C. This data helps demonstrate the changing attitudes and appetites from landlords when it comes to the energy-related performance of their properties and this is an area which will only continue to grow in light of potential legislative shifts which remain on the horizon.”
“This enhancement to our ABC+ Green Mortgage range through the addition of a set of Special Edition two-year BTL discounts underlines our ongoing commitment to supporting the green agenda and in providing options to those landlords who are looking to add to their portfolios or remortgage existing properties within them. We are only at the beginning of the Green Mortgage journey and we will continue to drive positive change where possible throughout our BTL and residential propositions.”
You can find out more by checking out the latest product guide today.
Why use Foundation for your next BTL case?
Who for?
- Experts in individual or limited company applications
- Up to 4 directors & no personal guarantees are needed for shareholders
- Limited companies/SPV with complex structures
- Shareholding can include other companies
- Newly formed SPV’s and flexible deposit sources including Intercompany loans
- No min income or employment/self-employment history
- First time landlords considered
- Ex-pats considered as individuals or limited companies
How much?
- Up to 85% LTV & Loans up to 2m (on core range)
- ICR of 125% for limited company borrowers and basic rate taxpayers
- No limit to portfolio size, subject to maximum borrowing of £5m with Foundation
- Portfolio in the background stress tested at 100%
What for?
- HMOs: standard to 6 bedrooms, large up to 8 bedrooms and MUBs: up to 10 units
- Short term lets in personal or SPV structures
- Day 1 remortgages
- Products without ERCs
- Range of Green Products for properties with EPC rating A-C