"There has been considerable growth in the number of portfolio landlords in recent years, and from what we are seeing in the market, they still have a strong appetite to both grow portfolios and to explore remortgage options in order to do this"
- Tom Jacob - FHL
F1 range
Aimed at landlord borrowers with an almost clean credit history, Foundation's F1 range will see new fixed rates, including a Portfolio Landlord-only five-year fixed-rate Special, available at 5.79% (65% LTV) and 5.89% (75% LTV). This product comes with a 5% fee, a free valuation and no application fee.
Other F1 Special products (available to all landlord borrowers) include a two-year fixed-rate product, available at 6.04% (65% LTV) and 6.19% (75% LTV); and five-year fixes at 6.34% (65% LTV) and 6.39% (75% LTV). All come with a 3% fee.
F2 range
Foundation also has Specials launching in its F2 range – for landlord borrowers financing a more specialist property and/or those with historical blips on their credit rating – of new-fixed rates, including:
- Two-year fixed-rate products, available at 6.14% (65% LTV) and 6.29% (75% LTV); and five-year fixed-rates, available at 6.44% (65% LTV) and 6.49% (75% LTV).
- HMO Specials – for properties up to six occupants – with the two-year fixed rate available at 6.24% (65% LTV) and 6.39% (75% LTV); and a five-year fixed rate available at 6.54% (65% LTV) and 6.59% (75% LTV).
All F2 new Special products come with a 3% fee.
Tom Jacob, Director of Product and Marketing at Foundation Home Loans, said: “These new Specials are, with the exception of our specific five-year fix for Portfolio Landlords only, available to all landlord borrowers and our aim is to broaden the range of mortgage options for those who are either looking to purchase or seeking to refinance.
“There has been considerable growth in the number of portfolio landlords in recent years, and from what we are seeing in the market, they still have a strong appetite to both grow portfolios and explore remortgage options in order to do this.
"This specific five-year fix for portfolio landlords also benefits from a free valuation and no application fee, cutting down significantly on the upfront costs which could be beneficial if looking to refinance multiple properties
“These new buy-to-let Specials not only cover standard products but we are also catering for those looking at their HMO finance options. Overall, we believe this new range of Specials will appeal to a wide landlord demographic and we urge advisers to review these options for their client base."
