Foundation Home Loans, the intermediary-only specialist lender, has today (6th July 2021) launched a set of Green ABC mortgage products specifically for buy to let purchases.
The new range consists of three new two-year variable discount rates available to individual landlords as well as limited companies seeking to purchase a property on a variable rate without early repayment charges, and are priced according to the EPC rating of the property, starting as low as 1.99%.
· EPC A rating: discount of 3.1% giving current rate of 1.99%
· EPC B rating: discount of 2.8% giving current rate of 2.29%
· EPC C rating: discount of 2.6% giving current rate of 2.49%
· Up to 75% LTV
· 2% product fee
· No ERCs
· For purchases up to £1m
· Discounted rates starting from 1.99%
· Available to individuals as well as limited companies
· No limit to the background portfolio size, subject to a maximum of £5m with us
ICR is calculated at 5.5% and stress tested at 125% for limited companies and basic rate tax payers, and 145% for other landlords.