It also reduces rates on several existing deals
Specialist lender Foundation Home Loans has expanded its buy-to-let mortgage offerings, with new products aimed at larger houses in multiple occupation (HMOs), multi-unit freehold blocks (MUFBs), and expat borrowers.
The products, now accessible through the lender’s Buy to Let by Foundation brand, include the F1 expat five-year fixed rate mortgage, designed for borrowers with near-clean credit histories. This product is available up to 75% loan-to-value (LTV) with a rate of 5.99% and a 1.5% fee.
Another addition is the F2 expat holiday let five-year fixed rate mortgage, which caters to more specialised properties and clients with some credit challenges. This option is also available up to 75% LTV, offering a rate of 6.59% with a 2% fee.
In addition to launching new products, Foundation Home Loans has reduced rates on several existing ones.
The F1 green expat five-year fixed rate mortgage, designed for properties with an energy performance certificate (EPC) rating of ‘A’ to ‘C’, is now available up to 75% LTV at a rate of 5.99%. This product comes with a 1.25% fee, free valuation, and no application fee. Rates on the F2 expat standard, HMO, and MUFB five-year fixed rate mortgages have been cut by 0.5%, with rates now starting at 6.09%.
The lender has also reduced rates on its F2 large HMO two- and five-year fixed rate mortgages by up to 0.4%, with rates now starting at 6.19% and a 2% fee. Similarly, rates on the F2 MUFB two- and five-year fixed rate mortgages have been lowered by up to 0.3%, with rates now starting at 5.99% and a 2% fee.
“The addition of larger HMOs, MUFBs, and expat products to our core buy-to-let range is a significant step forward for the brand,” Tom Jacob (pictured), director of product and marketing at Foundation Home Loans. “We believe these new additions will be welcome news for advisers active in the buy-to-let space, particularly those working with professional landlords with substantial portfolios.”
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