In what the lender calls a significant enhancement of its buy-to-let proposition, Foundation now offers new 85% LTV two- and five-year fixed rate options within its F1 product range.
The two-year fixed rate is available at 4.79% and the five-year fixed rate at 4.99%. There are no product fees with either, and they are available to limited companies, individuals and portfolio landlords as standard.
There is a minimum property value of £125k in order to be eligible for the 85% products. In line with the rest of the range, rental income on the five-year fix is calculated at the pay rate.
George Gee, Commercial Director at Foundation Home Loans, said: “In terms of pre-Christmas presents for the adviser community and their landlord clients, we don’t think it gets any better than Foundation increasing our maximum LTV and being able to offer 85% LTV products on buy-to-let for the very first time. This expansion comes at a time when we are seeing strong demand for increased LTVs and the fact we are able to offer these products with no product fee, to a wide range of landlords, we hope will go down well with advisers. Landlords continue to look at the current property market, with strong tenant demand and yield, as an opportunity to grow their portfolios and, as a specialist in this sector, we believe our range can help them fulfil their ambitions via their trusted advisers.”
