New Green Products For HMO And Short Term Lets From FOUNDATION HOME LOANS

 

As of 17th March 2022, Foundation Home Loans have introduced a new range of specific products for landlords looking to purchase or remortgage a buy to let specialist property including Short Term Lets and standard HMOs (up to 6 occupants) that have an EPC rating of A-C. Products in the new range will have a reduced product fee of 0.75%, are available up to 75% LTV, and also benefit from a tiered cashback upon completion of up to £750.

  • F2 ABC+ Green HMO (up to 6 occupants) 5-Year fixed rates starting from 3.44%
  • F2 ABC+ Green Short term let 5-Year fixed rates starting from 3.94%
  • Up to 75% LTV
  • Cashback upon completion of up to £750 for properties with an EPC rating of ‘A’; £500 for EPC rating B and £250 for EPC rating for ‘C’
  • Reduced product fee of 0.75%

Mortgage intermediaries and their clients can check the EPC rating of a property at https://find-energy-certificate.digital.communities.gov.uk/ by searching the postcode or certificate number.

As with all Foundation Home Loans’ buy to let 5-year fixed rates, ICR is calculated at pay rate and stress tested at 125% limited companies and basic rate tax payers, and 145% for other landlords.

 NEW RATE GUIDES

Why use Foundation for your next BTL case?

Who 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 as limited companies and individuals

How much?

  • Up to 85% 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
  • Green Mortgages available for purchase and remortgage
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