Foundation Home Loans has launched a range of buy-to-let (BTL) fixed-rate specials including a 5-year fixed-rate product for portfolio landlords only.
In its F1 range – for landlord borrowers with an almost clean credit history – Foundation introduced a range of fixed-rates, including a portfolio landlord-only 5-year fixed-rate special, available at 5.79% 65% loan-to-value (LTV) and 5.89% 75% LTV.
This product comes with a 5% fee, a free valuation and no application fee.
Foundation allows portfolio landlords to have an unlimited number of properties within their total portfolio, and its maximum aggregate borrowing on special products is limited to £3m.
Other F1 Special products – available to all landlord borrowers – include a 2-year fixed-rate mortgage, available at 6.04% (65% LTV) and 6.19% (75% LTV); and 5-year fixes at 6.34% (65% LTV) and 6.39% (75% LTV).
Foundation has also launched specials in its F2 range – for landlord borrowers financing a more specialist property, or those with historical blips on their credit rating. The new fixed rates include 2-year fixed-rate products, available at 6.14% (65% LTV) and 6.29% (75% LTV); 5-year fixed-rates, available at 6.44% (65% LTV) and 6.49% (75% LTV) and a series of HMO specials.
All F2 new Special products come with a 3% fee.
Tom Jacob (pictured), director of product and marketing at Foundation Home Loans, said: “These new specials are, with the exception of our specific 5-year fix for portfolio landlords only, available to all landlord borrowers and our aim is to broaden the range of mortgage options for those who are either looking to purchase or seeking to refinance.
“There has been a considerable growth in the number of portfolio landlords in recent years, and from what we are seeing in the market, they still have a strong appetite to both grow portfolios and to explore remortgage options in order to do this.”
He added: “This specific 5-year fix for portfolio landlords also benefits from a free valuation and no application fee, cutting down significantly on the upfront costs which could be beneficial if looking to refinance multi properties.
“These new buy-to-let specials not only cover standard products but we are also catering for those looking at their HMO finance options.
“Overall, we believe this new range of Specials will appeal to a wide landlord demographic and we urge advisers to review these options for their client base.”
