NEW LIMITED EDITION BUY TO LET ERC-FREE VARIABLE DISCOUNT FROM FOUNDATION HOME LOANS
On Thursday 21st October, we are launching a new Limited Edition 2-year Discount Product with no ERCs, no application fee and one free standard valuation for individual, portfolio and limited company landlords.
F1 ‘limited edition’ ERC-free variable discount
- 69% (discount of 2.40 from reversion) for two years
- Maximum loan of £1m up to 75% LTV
- 2% Product fee
- No Early Repayment Charges
- Free valuation and no application fee
- Available for purchase and remortgage
- For individual, portfolio and limited company landlords
This ERC-free product with a highly competitive rate and free valuation is designed for landlords looking to access low monthly payments and flexibility, without onerous set up costs.
ICR rental cover is calculated at the notional rate of 5.5% and stress tested at 125% for limited companies and basic rate tax payers or 145% for other landlord types.
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: 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
