Two-year BTL rates cut at FHL

Residential and buy to let lender, Foundation Home Loans, has announced that following rise in demand for shorter-term buy-to-let mortgages, it has cut the rates on its two-year buy-to-let products.

Related topics:  Finance
Property Reporter
23rd July 2020
To Let 555

According to the lender, as of today, advisers will be able to access the reduced two-year rates within the firm's standard property range for both individual and limited company borrowers with an almost clean credit history.

Two-year fixed rates are available at 3.24% up to 75% LTV with a 2% fee in Foundation's F1 category or 3.49% in the F2 range.

New F1 two-year fixed rates start from 3.44% up to 65% or 3.64% up to 75% LTV, both with a flat £1,995 fee.

Jeff Knight, director of marketing at Foundation Home Loans, said: “We are seeing a strong demand for our two-year products across the range and are always looking to enhance our competitive position where appropriate.

"These products are available to both limited companies and individuals. We are also able to offer these with generous ICRs, for example, 125% for limited companies and basic-rate taxpayers, which broadens our range and offers an extensive choice to meet the needs of buy-to-let landlords.

"At present, we are able to provide excellent levels of service, we have all our sales team working effectively from home and this has translated into a record number of new case enquiries in recent weeks. We would therefore urge advisers with landlord clients to speak to Foundation to see how our growing range of products might be suitable for them.”

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