Find out what rate it is offering…
Intermediary-only specialist lender Foundation Home Loans has launched a new limited edition two-year fixed rate mortgage under its buy-to-let brand, Buy to Let by Foundation, further expanding its core buy-to-let range.
The new mortgage is designed for both purchasing and remortgaging and features a rate of 5.79% for up to 75% loan-to-value (LTV) with a 1% fee. It is open to both limited companies and individual borrowers, with loans capped at £1.5 million.
The launch follows closely on the heels of the introduction of two new products targeted at first-time landlords investing in houses in multiple occupation (HMOs).
“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,” said Tom Jacob (pictured), director of product and marketing at Foundation Home Loans.
“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.”
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