"The launch of Property Plus and HMO Plus is designed to support those who may have faced restrictions under traditional valuation and underwriting criteria in the past"
- Tom Jacob - Foundation Home Loans
Intermediary-only specialist lender, Foundation Home Loans has announced that it has launched its Property Plus and HMO Plus range, further strengthening its buy-to-let proposition.
Supported by a tailored underwriting process, Foundation now consider HMOs and a broader range of commercial premises, including flats above shops, locations near business units, investor-only areas, and those affected by postcode concentration rules.
The new product ranges include two- and five-year fixed rate Property Plus products, starting from 6.99% up to 75% LTV with a 2% product fee and two- and five-year fixed rate HMO Plus products, starting from 7.09% up to 75% LTV with a 2% product fee.
Alongside these additions, Foundation has also cut rates by up to 0.25% across key areas of its buy-to-let range. This includes multiple properties on One Title rates reduced by 0.10%, now starting from 6.89% with a 2.50% product fee, semi-commercial property rates reduced by up to 0.15%, with rates now starting from 7.34% with a 3% product fee, and reduced rates on other selected products of up to 0.25%.
“Expanding financing options for landlords with complex property types remains a key priority for Foundation Home Loans," stated Tom Jacob, Director of Product and Proposition at Foundation Home Loans, "The launch of Property Plus and HMO Plus is designed to support those who may have faced restrictions under traditional valuation and underwriting criteria in the past,"
He added, “These latest additions and enhancements reaffirm our commitment to supporting our intermediary partners with specialist products tailored to meet real-world buy-to-let lending needs, whether for first-time investors or experienced portfolio landlords while ensuring they have the tools and flexibility to secure the right solutions for their clients,”
