We have refreshed the entire core buy to let range with rate and fee reductions plus new flat-fee Short Term Let products.
- Reduced percentage product fees on all 2-year fixed rate products to 1% (from 2%). The 2-year variable discount products (with no ERCs) including Green ABC are unchanged;
- Reduced percentage product fees on the 5-year F1 and F2 products (standard property) to 1.5% (from 2%);
- Rate reductions across the range of up to 25bps;
- Introduction of new products for short term lets with flat fees.
George Gee, Commercial Director at Foundation comments, “By improving the core product suite, we can offer even better value to a much broader range of our borrower types. With newly reduced fees, the total cost of the loan is now even more competitive for our products.”
As per previous communications, as part of this refresh, the remaining portfolio landlord ‘limited edition’ products are also withdrawn.
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 on core range;
- Loans up to £2M on core range;
- No limit to portfolio size, subject to maximum borrowing of £5m with Foundation;
- Cater for specialist properties such as HMOs, short term lets and Multi Unit Blocks;
- HMOs range: 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 purchase and remortgage.
