Foundation also revealed that it has introduced a number of rate reductions of up to 40 basis points across its five-year buy-to-let products for both individuals and limited company borrowers, with rates now available from 3.29%.
The lender confirmed that as of today, advisers will be able to access a number of returning buy-to-let products including:
Large loan mortgage – 3.29% five-year fixed-rate available for F1 borrowers at 65% LTV.
Early remortgage – 3.65% five-year fixed-rate available for F1 borrowers with a maximum LTV of 75%.
Short-term let mortgages – both two-year (3.99%) and five-year (4.64%) fixed-rates available for F1 borrowers up to a maximum LTV of 75%.
Jeff Knight, Director of Marketing at Foundation Home Loans, said: ““It’s fair to say that the buy-to-let market is in a different place to where it was at the start of the year, but with each week we are marking that return to a ‘new normal’ and we are offering our adviser partners access to a wide range of products for their clients.
“We’ve seen strong demand from intermediaries who say there are many landlords who want to make the most of the opportunity, refinancing in order to fund future purchases, and looking at diversification of their portfolios. These products will allow them to do that, and we are particularly pleased to be back in the short-term let space as we believe there will be a growing demand to utilise these properties, particularly in the holiday sector.
“Our sales team are available to support all advisers and help them place these cases, we have a strong appetite to lend and we are very positive about the buy-to-let market throughout the rest of 2020 and beyond.”
