"The launch of these new options comes swiftly after price cuts to our other buy-to-let Specials as we continue to support advisers and their landlord clients"
- Tom Jacob - FHL
Foundation Home Loans' new products are within the lender’s F1 tier – for borrowers with an almost clean credit history – and are both five-year fixes.
At 65% LTV, the rate is 5.24% and at 75% LTV the rate is 5.34%. Both products come with a 6% fee.
Portfolio landlords can have unlimited properties in their portfolios, with a maximum loan exposure of £5m with Foundation. The maximum aggregate borrowing on Foundation’s Special products for portfolio landlords is £3m.
The new buy-to-let Specials follow the lender cutting rates at the end of November on its other Specials in both the buy-to-let and owner-occupied ranges.
Tom Jacob, Director of Product and Marketing at Foundation Home Loans, said: “Portfolio landlords are a key borrower demographic within buy-to-let, and much of the property supply within the private rental sector is reliant on these borrowers, their properties, and their commitment to delivering more housing.
“These new products are specifically for portfolio landlords and come with a lower rate, higher fee option, in order to help them meet affordability and to support their purchase or refinance needs. The launch of these new options comes swiftly after price cuts to our other buy-to-let Specials as we continue to support advisers and their landlord clients.”
