Foundation Home Loans, the intermediary-only specialist lender, has refreshed both its core buy-to-let (BTL) and owner-occupied product ranges.
The lender has also launched new remortgage-only buy-to-let products, all available with cashback.
The new buy-to-let remortgage-only products are available within Foundation’s F1 and F2 tiers.
Products included within the new remortgage-only range cover F1 5-year fixed-rates, available up to 80% loan-to-value (LTV) with rates starting from 7.29%, and F2 5-year fixed-rates, available up to 75% LTV, with rates starting from 7.44%.
The remortgage-only products come with a £1,295 fixed fee, a free standard valuation, no application fee and £500 cashback.
As well as refreshing owner-occupied product rates, Foundation has announced 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, and its list of eligible professions also includes Accounting, Actuarial, Medical, Legal, Surveying, Architecture and Engineering, amongst others.
Tom Jacob (pictured), director of product and marketing at Foundation Home Loans, 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 remortgage-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 Professionals borrowers by introducing a free valuation on these products, which have proved very popular offering higher income multiples.”
He concluded: “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.”
