Foundation Home Loans has launched an Extra range of products within its F2 buy-to-let range covering more unusual properties and landlord borrower needs.

Foundation’s F2 buy-to-let proposition is available for both portfolio and non-portfolio landlord borrowers with some historic credit blips, and these new F2 Extra products cover extra-large HMO properties (nine bedrooms or more), holiday lets, extra-large portfolios and extra-large loans.

Following a successful pilot with selected buy-to-let partners and packagers, Foundation has refined the F2 Extra offering, and is now accepting applications on these products from all advisers.

Details for these Tier 2 Extra products, available for both purchase and remortgage, include:

• Extra large HMO – fixed-rates starting from 7.04%, available up to 65% LTV.
• Holiday let extra – fixed-rates starting from 6.94%, available up to 70% LTV.
• Extra large portfolio – fixed-rates starting from 6.94%, available up to 70% LTV.
• Extra large Loans – fixed-rates starting from 6.89%, available up to 70% LTV.

As part of this broadening of the proposition, Foundation is also no longer restricting aggregate portfolio borrowing with the lender to £5m. Existing Core products can be used in a large portfolio below £5m, while these F2 Extra products can be used for the part of the portfolio above this amount.

It means that, for a client transferring an £8m portfolio to Foundation, the first £5m can be put onto core products, and the additional £3m on F2 extra large portfolio products.

FHL director of product and marketing Tom Jacob comments: “These new product options – now available to all advisers – plus our criteria changes for Extra Portfolio and Extra Large Loans, allow us to broaden the buy-to-let mortgage choice to advisers and their landlord borrower clients, and are specifically designed for landlord requirements or property types beyond those catered for in the specialist market”.

He adds: “We believe this opens up wider finance options in these spaces for landlords to utilise in either purchasing or remortgaging, and we believe they will be particularly relevant for those who might ordinarily have to use costlier lending options.