Foundation Home Loans has launched a new limited edition five-year fix through its buy-to-let brand as it looks to extend its core BTL proposition.
This new product is available to both portfolio and non-portfolio borrowers though the company’s F1 product tier — for landlords with an almost clean credit history.
The BTL mortgage is fixed at 5.74% for five years and is available up to 75% LTV. It comes with a 1% fee and free valuation. This followed the launch last week of a new two-year fix with rate of 5.79% at 75% LTV (also with a 1% fee).
Foundation says its 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 market Tom Jacob says: “This latest product fits within our core ‘Buy to Let by Foundation’ range and has been launched at the same time as our multiple properties one title product suite, available within the ‘Solutions by Foundation’ brand.
“We remain focused on ensuring advisers and their landlord clients have as wide a range of mortgage options available to them as possible, and there are specific mortgages for their individual needs, taking into account individual circumstances, the types of properties they are seeking to finance and the rental sectors they are active in.”
