"By cutting the rate on our F1 Limited Edition two-year fixed, we are giving brokers a sharper option for larger loans, with a simple flat fee and a competitive rate"
- Tom Jacob - Foundation Home Loans
Foundation Home Loans has announced that it has introduced a new F1 buy-to-let Limited Edition five-year fixed-rate product for portfolio landlords and reduced the rate on its existing two-year fixed-rate Limited Edition.
The intermediary-only specialist lender said both updates are designed to support brokers working with landlord clients who may see activity return after the Budget.
The new F1 product, which is aimed at borrowers with an almost clean credit history, is available up to 75% LTV at 5.24%. It includes a 1.75% fee, a free standard valuation and no application fee, and is open exclusively to portfolio landlords. The lender has also cut the rate on its existing 75% LTV Limited Edition two-year fix. The product has been reduced by 25 basis points to 4.99%, comes with a £2,995 fee and has a minimum loan size of £200k.
Foundation said the new product and the rate cut are intended to help brokers boost end-of-year business and support clients who may have delayed decisions ahead of the Budget. The lender added that with the main tax measures affecting individual landlords not due to take effect for at least 18 months, it expects many borrowers to continue with plans that had been placed on hold.
According to Foundation, brokers working with landlord borrowers may find renewed appetite as clarity improves. The lender said the updated range offers options that reflect current landlord needs, including competitive pricing and features that support larger loans.
Tom Jacob, director of product at Foundation Home Loans, explained the shift in recent weeks. “Many landlords have spent the last few weeks waiting to see what the Budget would bring,” said Tom. “Now that we have more clarity, the changes that could affect them are still some way off, and we expect a number of brokers to see renewed interest from clients who had paused decisions."
“By cutting the rate on our F1 Limited Edition two-year fixed, we are giving brokers a sharper option for larger loans, with a simple flat fee and a competitive rate. Alongside this, our new F1 Limited Edition five-year fixed is aimed squarely at portfolio landlords who are focused on growing and reshaping their holdings, helped by the combination of a competitive rate, percentage fee, free standard valuation and no application fee."
“We know brokers want lenders who stand with them during all market periods. These changes show our ambition to support both brokers and their landlord clients with clear options, steady service and products that work for the type of cases they are placing. Our teams remain on hand to help with case queries, product selection and any support advisers need as activity builds again.”
