Foundation Home Loans have made some changed to their BTL products, withdrawing most of the 65% LTV products, repricing several 75% LTV fixed rates and also reducing their F1 2-year 75% LTV discount rate by 1.15% to 2.49%, as well as introducing a new 80% LTV 2-year discount product.
New discount product:
- New F1 2-year discount, 80%LTV at 2.99% (revision – 2.50% discount)
- No ERCs
- For both purchases and remortgages
- Maximum loan size of £500k at 80% LTV
- 2% fee
Why use Foundation for your next BTL case?
What for?
- Individual or limited company
- Limited companies with complex structures
- Up to 4 directors
- Newly incorporated limited companies acceptable
- No minimum term of employment/self-employment and no minimum income
- Products for first time landlords
- Ex-pats considered for limited companies only
How much?
- Up to 80% LTV on core range
- Loans up to £2m on core range
- ICR of 125% for limited company borrowers and basic rate taxpayers and 145% for others
- No limit to portfolio size, subject to maximum borrowing of £5m with Foundation
What for?
- Specialist properties such as HMOs, short term lets and Multi Unit Blocks
- HMOs: up to 8 bedroom and MUBs: up to 10 units
- Green Mortgages available for purchase and remortgage
To find out more about Foundations buy to let products, email alice.ratcliff@