The new products are available for both limited companies and individuals
Intermediary-only specialist lender Foundation Home Loans has added a set of special edition two-year buy-to-let discounted products to its ABC+ green mortgage range.
The products are available for both limited companies and individuals looking to either remortgage or purchase. They also have an enhanced maximum loan size of £1.5 million at 75% LTV to benefit landlords looking to borrow more at 75% LTV for their EPC ‘A’ to ‘C’ rated properties.
For borrowers with an almost clean credit history, there is a two-year discount at 3.49% (3.25% discount) as part of Foundation’s F1 product range. There is also a two-year discount at 3.74% (3% discount) for HMO lending on properties for up to six occupants, and a two-year discount at 3.84% (2.9% discount) for short-term lets. All products are ERC-free and come with a 1.5% product fee.
Foundation Home Loans was one of the first UK specialist lenders to enter the green mortgage market for both buy-to-let and owner-occupied mortgages. In March 2022, the specialist lender expanded its green buy-to-let product range to specialist property types including short-term lets and standard HMOs.
Read more: Foundation adds specialist properties to green BTL product range.
According to Foundation, the extension of its ABC+ green mortgage range will allow more advisers and their clients to experience the ongoing strength of its service levels. It added that it is currently taking just one day to review buy-to-let mortgage applications and is averaging just 30 seconds to answer incoming calls.
“In the recent Q2 iteration of the BDRC landlord panel survey, almost two-thirds of landlords planning to purchase property in the next 12 months were said to be looking for a property rated ‘A’ to ‘C’ and 53% of landlords who had bought a property in the last three months have bought properties with an ‘A’ to ‘C’ EPC rating,” George Gee (pictured), commercial managing director at Foundation Home Loans, said. “This data helps demonstrate the changing attitudes and appetites from landlords when it comes to the energy-related performance of their properties, and this is an area which will only continue to grow in light of potential legislative shifts which remain on the horizon.
“This enhancement to our ABC+ green mortgage range, through the addition of a set of special edition two-year BTL discounts, underlines our ongoing commitment to supporting the green agenda and in providing options to those landlords who are looking to add to their portfolios or remortgage existing properties within them.
“We are only at the beginning of the green mortgage journey, and we will continue to drive positive change where possible throughout our buy-to-let and residential propositions.”
