Foundation Home Loans has launched a new set of Limited Edition, buy-to-let products with reduced product fees, exclusively for landlords purchasing or remortgaging through a limited company, as part of Foundation’s F1 range for borrowers who just miss out on mainstream credit scores.
The Limited Edition range contains both 2- and 5-year fixed rate options up to 65% and 75% LTV, with reduced product fees.
- New Limited Edition rates start at 3.09% for a 2-year fix at 65% with a 1% fee and 3.19% for a large loan 5-year fix up to 65% LTV with a 2% fee.
Foundation’s BTL fixed rates are designed to support landlords looking for a more generous loan for their rent, as ICR is calculated using the pay rate with a 5-year fix or the notional rate of 5.5% for shorter rates and stress tested at only 125% for Limited Companies.
- Maximum loan amount of £1.5m (65% LTV) and £1m (75% LTV)
- Maximum loan on the large loan product at £2m
- No limit to the borrower’s background portfolio size, subject to a maximum of £3m with Foundation.
George Gee, Commercial Director at Foundation Home Loans, said:
“These Limited Edition products, purely for those seeking finance via limited companies, now come with a reduced product fee which should make them more desirable for advisers and their landlord clients. The Foundation criteria remains exactly the same as we seek to support all those landlords either looking to add to portfolios or seeking refinancing.”
Download the product guide here
Additionally, since 7th January, all Foundation Home Loans products now operate on a rolling end date basis, so these products come with the benefit of the initial rate for the full term from completion.
