"As always, we keep a very close eye on the money markets and the sector itself, to ensure that, if the direction of travel remains the same, we can take the opportunity to provide competitive product options."
- Tom Jacob, director of product & marketing at Foundation Home Loans
Available to both individual landlord borrowers and limited companies, this new F1 tier product joins the intermediary-only specialist lender’s buy-to-let range. The limited edition fix is offered at a rate of 6.69% with a flat fee of £2,995, providing up to 75% LTV.
Presently, Foundation Home Loans’ service levels continue to average turnaround times of one day for DIP referral, application and underwriter review for all cases.
Commenting on the launch, Tom Jacob, director of product & marketing at Foundation Home Loans, has said:
“Even prior to the publication of the latest inflation figures, we were seeing an easing of swap rates off their most recent highs, and as a result of this shift, we are able to launch this Limited Edition five-year fix for buy-to-let borrowers at a keener rate.
“Five-year fixes remain popular in terms of both meeting affordability measures, ensuring borrowers can secure the right loan amount and in terms of providing monthly mortgage payment certainty. This product is available up to 75% LTV with a flat fee, plus it comes with a maximum loan amount of £1.5 million."
Jacob continued: “As always, we keep a very close eye on the money markets and the sector itself, to ensure that, if the direction of travel remains the same, we can take the opportunity to provide competitive product options. Our current service levels are excellent and we are here to support advisers across all their specialist lending needs.”
