New two- and five-year fixes have been launched in both ranges
Specialist lender Foundation Home Loans has launched new special products in both its owner-occupied and buy-to-let ranges.
Under its owner-occupied offering, Foundation has added new two- and five-year fixed rate products up to 75% loan-to-value (LTV) in both its F1 and F2 tiers, with rates staring from 6.49%. The fee-assisted products come with one free valuation, a flat £795 product fee, and no application fees.
Within the buy-to-let range, the lender has launched new F1 and F2 two- and five-year fixed-rates, up to 75% LTV, with rates starting at 6.29% for F1 with a free valuation, and 6.34% for F2.
The intermediary-only lender also introduced specific house in multiple occupation (HMO) specials in its F2 tier, up to 75% LTV, with rates starting at 6.44% for the two-year deal and 6.59% for the five-year fix.
| For intermediaries only
— Foundation Home Loans (@foundationhome1) June 20, 2023
New Buy to Let Specials for F1, F2 and HMO released today, plus new Owner Occupied fee-assisted Specials up to 75% LTV.
Calculate your clients’ maximum loan or submit a DIP today! https://t.co/L8LWQuCQgL#SolutionFound #SpecialistLending pic.twitter.com/Q07MPrYokn
Earlier this month, Foundation also added new limited edition products to its core buy-to-let range and new special editions to both its buy-to-let and owner-occupied mortgages.
“As advisers will know only too well, June is shaping up to be a significant month of product changes and launches,” Tom Jacob (pictured), director of product and marketing at Foundation Home Loans, stated in a post announcing the new products. “At Foundation, we want to ensure we are offering as much choice as possible and have therefore launched these new specials, which cover both our owner-occupied and buy-to-let ranges.
“The big news in owner-occupied is that we have two- and five-year fixes now available up to 75% LTV, which are fee-assisted in order to take away some of the upfront costs that are often a major concern for residential borrowers.
“In buy-to-let, we are offering new products with free valuations, plus specific HMO deals, which we know is a growing area of demand for landlords as they seek to ensure as high a rental yield as possible.”
Jacob added that they would “keep listening” to the market – to their adviser partners and their landlord clients to ensure that they can offer a full range of products that meet all their needs.
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