Foundation continues to support mortgage intermediaries with competitive buy to let rates, today announcing rate reductions of 0.10% on a number of 5-year buy to let fixed rates including our popular 5-year 75% LTV buy-to-let fixed rate with the 2% fee being reduced from 3.34% to 3.24%.
The Green Reward Remortgage product at 75% LTV is reduced by 0.06% to 3.59% and there is also a new 65% LTV version of the Green Reward Remortgage product for loans up to £1.5M and a lower rate of 3.49%.
The products are available to individuals as well as limited companies, with no limit to the background portfolio size, subject to a maximum of £3M with Foundation.
Other improvements to note:
- Large Loan (up to £2M) BTL 5-year fixed rates now reduced to 2.99% at 65% LTV
- The ERC-3 product has a fixed rate of 3.59% for 5 years but only has ERCs for the first three
Generous loan amounts
Foundation’s ICR is calculated using the pay rate with a 5-year fix and at only 125% for Limited Companies and basic rate tax payers, and 145% for other landlords.
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Why use Foundation for your next BTL case?
- Individual or limited company
- Limited companies with complex structures
- Up to 4 directors
- Newly incorporated limited companies acceptable
- ICR of 125% for limited company borrowers and basic rate taxpayers and 145% for others
- No minimum term of employment/self-employment and no minimum income
- Up to 80% LTV
- Loans up to £2m
- No limit to portfolio size, subject to max borrowing of £3m with us
- Cater for specialist properties such as HMOs, short term lets and Multi Unit Blocks
- HMOs: up to 8 bedrooms and MUBs: up to 10 units
- Products for first time landlords
- Ex-pats considered for limited companies only
- Green Mortgages available for the remortgage of properties with an EPC rating of C or above
