A range of new remortgage products across both buy-to-let and residential have been launched today by Foundation Home Loans.

Advisers can now access a new set of fee-assisted two- and five-year fixed-rate BTL remortgage products, available at both 65 and 75 per cent LTV. Two-year fixed rates start at 3.34 per cent and five-year fixes from 3.54 per cent.

The products are available to individuals and limited companies, for both portfolio and non-portfolio landlords and come with a number of incentives. These include one free standard valuation per case, no application fee and £250 cashback on completion.

Foundation also has a new ‘Early’ remortgage product for standard HMOs of up to six occupants, which allows the borrower to remortgage within six months of the initial purchase. It is a five-year fixed-rate product at 3.99 per cent, 75 per cent LTV and has a product fee of 2 per cent.

The new fee-assisted range of residential remortgage products for owner-occupiers are two- and five-year fixed rates available at 65, 75 and 80 per cent LTV. Rates start at 3.49 per cent for two-year fixes and 3.99 per cent for five-years.

This residential remortgage range also comes with the same incentives as the BTL fee-assisted products, with one free standard valuation per case, no application fee and £250 cashback on completion.

Foundation has reiterated its borrower criteria, as the new range should appeal to those borrowers who may not meet mainstream lender criteria. It is also aimed at those who believe they are only eligible for a product transfer from their existing lender or have recently returned from furlough.

Foundation Home Loans commercial director George Gee says: “Recent mortgage data from CACI suggests there is likely to be significant number of product maturities in December – valued at £33.18bn – while 2021 could see the total maturity figure hitting £250bn.

“This is a large amount of potential remortgage business, as we anticipate purchase activity beginning to tail-off the closer we get to next March’s stamp duty deadline.

“Our anticipation is that demand for remortgages will continue to grow and, with 2020 providing an added layer of complexity for many existing borrowers, we wanted to provide a competitive remortgage product range alongside our criteria, which takes into account what might have happened to a borrower’s individual finances.”