Foundation Home Loans has launched a ‘festive fixed-rate special’ deal at 3.04% for five years for landlords.

The broker-only specialist lender says the offer has a flat product fee of £1,995 and is available for both purchase and remortgage mortgage loans between £250,000 and £1m, for buy-to-let individual customers, limited company buy-to-let groups, and portfolio landlords. 

The interest coverage ratio is calculated at a pay-rate of 3.04% for this five-year fix, stress-tested at 125% for limited companies and basic-rate taxpayers, and 145% for all other types of borrowers.

Foundation Home Loans commercial director George Gee says: “ ‘Tis the season to be jolly and at Foundation we want to sprinkle a little joy throughout December with the launch of this new ‘festive fixed-rate special’. 

“This fits within our F1 range for those landlords with near-mainstream credit who are looking for larger loan sizes between £250,000 and £1m.

 “As this product, much like the festive season, unfortunately, won’t be around forever, we would urge advisers to contact us if they have suitable clients.”