Buy-to-Let by Foundation has launched a brand-new group of products – The Buy to Let ‘pound-for-pound’ (£4£) remortgage.
These new products appeal to higher rate tax-paying landlords who are looking for 2-year fixed rates, who can now remortgage on more favourable terms without being subject to higher ICR cover, or the stress rates typically required of sub 5-year fixed rates.
Key Points:
- Remortgages with no additional borrowing can now be considered on £4£ underwriting
- Assessed at 125% ICR regardless of applicant low/high tax payer status
- Stress rate applied is the product Pay Rate – regardless of length of fixed period
- Specific range of products
New £4£ Limited Edition products:
- F1 and F2 credit criteria
- For individuals and limited companies
- F1 6.59% fixed for 2 years
- F2 6.74% fixed for 2 years
- Products available up to 75% LTV
- Minimum loan size: £50,000
- Maximum loan size: £1.5m
- Product fee – 1.5%
Check out the latest BTL product guide today.