"This week we have been able to add a five-year option for those landlords looking for a longer mortgage horizon but still wanting to secure a highly competitive product."
- Tom Jacob, director of product and marketing at FHL
‘Buy to Let by Foundation’ has launched a new limited edition five-year fixed-rate buy-to-let product to further extend its core buy-to-let proposition.
The five-year fix is available within Buy to let by Foundation’s F1 product tier – for landlord clients with an almost clean credit history – and is available for portfolio and non-portfolio landlord borrowers at 5.74% up to 75% LTV with a 1% fee, and also comes with a free valuation.
The new five-year fix follows the launch last week of a two-year fixed-rate option, which comes with a headline rate of 5.79% up to 75% LTV and a 1% fee.
Tom Jacob, director of product and marketing at Foundation Home Loans, said: “Last week we launched a two-year limited edition product for F1 borrowers, and this week we have been able to add a five-year option for those landlords looking for a longer mortgage horizon but still wanting to secure a highly competitive product.
"The product fits within our core ‘Buy to Let by Foundation’ range and has been launched at the same time as our Multiple Properties One Title product suite which is available within the ‘Solutions by Foundation’ brand.
"We remain focused on ensuring advisers and their landlord clients have as wide a range of mortgage options available to them as possible, and there are specific mortgages for their individual needs, taking into account both their individual needs and circumstances, the types of properties they are seeking to finance and the rental sectors they are active in.”
