Foundation Home Loans launches new BTL products and cuts fees | Mortgage Strategy

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Foundation Home Loans has launched a new set of Limited Edition company buy-to-let products with reduced fees.

The intermediary-only specialist lender said its Limited Edition range contains both two and five-year fixed rate options for landlords purchasing or remortgaging through a limited company vehicle.

It adds, the five products are part of its Foundation F1 range for borrowers “who just miss out on mainstream credit scores”.

The Bracknell-based firm introduces a two-year 65 per cent loan-to-value mortgage at 3.09 per cent and 75 per cent LTV at 3.24 per cent — both come with a reduced fee of 1 per cent.

It brings in a five-year 65 per cent LTV at 3.34 per cent and 75 per cent LTV at 3.44 per cent — both come with a reduced fee of 1.5 per cent.

And a five-year large loan 65 per cent LTV at 3.19 per cent with a reduced fee of 2 per cent.

These products are available with a maximum loan amount of £1.5m, 65 per cent LTV, and £1m, 75 per cent LTV, with the large loan product at £2m. It adds there is no limit to the borrower’s background portfolio size, subject to a maximum of £3m with Foundation.

Foundation Home Loans commercial director George Gee says: “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.”

Gee adds: “The Foundation criteria remains exactly the same as we seek to support all those landlords either looking to add to portfolios or seeking refinancing.”


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