Buy to Let by Foundation’ the buy-to-let brand of Foundation Home Loans, has introduced a limited edition two-year fixed rate buy-to-let product to extend its core buy-to-let proposition.
Available for both purchase and remortgage purposes, the F1 limited edition two-year fixed rate BTL mortgage comes with a headline rate of 5.79% up to 75% LTV and a 1% fee.
The product will be available to both limited companies and individuals, with a maximum loan amount of £1.5m. This introduction follows the recent launch of two new HMO products specifically for first-time landlords.
Foundation’s current service levels continue to average turnaround times of one day for DIP referral, application and underwriter review for all cases.
Foundation Home Loans director of product and marketing Tom Jacob commented: “We are seeing sustained appetite for two-year fixed rate products as a variety of landlords are looking to secure competitive rates which also offer them an opportunity to reappraise the market in the near future.
He added “The introduction of this limited edition two-year fix will help provide additional choice within what remains an active marketplace. In addition, improved stress rates on the rental cover calculation required for our sub five-year BTL rates mean that this product will now be more accessible to a greater number of landlords based on their rental income. A combination which should prove highly beneficial to our intermediary partners and their landlord clients.”
