Foundation Home Loans has today announced the return of their buy-to-let five-year fixed rate product which comes with only three years of early repayment charges (ERCs).
The product is available up to 75% LTV with a maximum loan amount of £1m for both limited companies and landlords with an almost-clean credit history.
- Competitive 5 year fixed rate offers longer term security and affordability for landlords while the ERCs for only 3 years allows them flexibility
- ICR based on the pay rate at 125% for limited companies and basic rate tax payers, 145% for others
George Gee, Foundation’s Commercial Director comments, “We have been running this product at various points over the last two years in response to market demand, and feedback from brokers indicates that now is the right time to offer it again as part of our product suite.
“These 5 year fixes rates with 3 year ERCs speak to this current market where landlords may want the reliability of a rate fixed for five years whilst retaining the flexibility to reappraise their loans after three years.”
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Foundation Home Loans is the home of specialist lending for buy to let mortgages, including portfolio and limited company mortgages up to £1.5m, with no limit to portfolio size. Do you have a specialist BTL mortgage case to place? Solution Found.
