Advisers are now able to access Foundation's ABC+ green mortgage for landlords looking to purchase or remortgage specialist properties that have EPC ratings of A–C
Intermediary-only specialist lender Foundation Home Loans has expanded its green buy-to-let product range to specialist property types, including short-term lets and standard HMOs for up to six occupants.
Advisers are now able to access Foundation’s ABC+ green mortgage for landlords looking to purchase or remortgage specialist properties that have EPC ratings of A–C.
The ABC+ green HMO product has rates starting from 3.44% for 75% LTV on a F2 five-year fixed rate, with a 0.75% fee. The ABC+ green short-term let product has rates starting from 3.94% for 75% LTV, again on a F2 five-year fixed rate, also with a 0.75% fee. Both allow a maximum loan size of £1 million.
Rates are tiered depending on the EPC rating of the property, with those at an ‘A’ level securing the most competitive rate.
Read more: Foundation launches green mortgages.
The products will also allow early remortgaging for landlords who purchase a property, upgrade it using bridging finance, and then seek to move to a standard buy-to-let deal.
Both products also benefit from a tiered cashback payment of up to £750 on completion of the mortgage.
“Following our initial launch of our Green Reward mortgage range last year, we are keen to ensure we remain at the cutting edge of product design and activity in this space. Feedback on our green-focused proposition has been excellent and we believe we have forged a reputation as a leader in this field,” George Gee, commercial managing director at Foundation Home Loans, said.
“To that end, and to show our further commitment to support the ‘Green agenda’, we are launching these ABC+ products for landlords seeking to purchase or remortgage specialist product types such as short-term lets and standard HMOs. These products mirror our Green ABC+ range for standard buy-to-let properties, providing tiered rates and cashback depending on the EPC level.”
