"Our products are there to support as wide an array of specialist mortgage borrowers as possible, and we’ll continue to look at opportunities within both our buy-to-let and owner-occupied ranges."
- Tom Jacob, director of product and marketing at Foundation Home Loans
Foundation’s F1 (for clients with an almost clean credit history) and F2 (for clients financing a more specialist property type and/or those with some historical blips on their credit rating) tiers, will now have access to new buy-to-let remortgage-only products. Products include up to 80% LTV with rates starting from 7.29% for F1 clients, and five-year fixed-rates, available up to 75% LTV, with rates starting from 7.44% for F2 clients.
The remortgage-only products come with a £1,295 fixed fee, a free standard valuation, no application fee and £500 cashback.
Alongside these refreshed products, Foundation has announced that all products which are part of its Professionals mortgage range – which allows first-time buyers, home movers and remortgagers in eligible professions to borrow up to six times their income – now come with one free standard valuation.
The lender defines a professional as someone currently practicing and holding a relevant qualification, with eligible professions including accounting, actuarial, medical, legal, surveying, architecture, and engineering.
Commenting on these products, Tom Jacob, director of product and marketing at Foundation Home Loans, has said:
“Remortgage activity remains a very strong source of business for advisers and, within buy-to-let in particular, we wanted to acknowledge this by launching specific remo-only products, that come with a number of added extras, including a low product fee, but also free valuations and cashback to help landlord borrowers.
“At the same time, we’re also refreshing both our buy-to-let and owner-occupied product ranges, and supporting our Professional borrowers by introducing a free valuation on these products, which have proved very popular offering higher income multiples.
“Our products are there to support as wide an array of specialist mortgage borrowers as possible, and we’ll continue to look at opportunities within both our buy-to-let and owner-occupied ranges, in order to keep adding product choice and ensuring borrowers have access to the finance they need.”
