‘Buy to Let by Foundation’, the buy-to-let brand of Foundation Home Loans, has launched two new house in multiple occupation (HMO) fee-assisted products.
The new HMO products each come with a 1.25% fee, a free valuation and no application fee.
They are available up to 75% loan-to-value (LTV), with the 2-year fix having a rate of 6.69%, while the 5-year fix is available at 6.39%.
The lender has also released today new F1 – for clients with an almost clean credit history – standard buy-to-let products, the 2-year fixes starting at 6.39% and 5-year fixes starting at 5.94%; each comes with a 1.5% fee.
Green ABC+ 5-year buy-to-let fixes – for portfolio and non-portfolio landlords improving the energy efficiency of their properties – are also available for F1 clients at 5.99% and F2 clients at 6.14%.
All rates on Foundation’s buy-to-let specials range remain unchanged, including the F1 5-year fixed rates from 4.79% and the fee-assisted products for portfolio landlords only from 5.09%; and 2- and 5-year fixed-rates for HMOs.
Tom Jacob (pictured), director of product and marketing at Foundation Home Loans, said: “We’re very pleased to be able to launch these brand new, fee-assisted HMO products within Buy to Let by Foundation, particularly as they also come with no application fee and one free standard valuation.
“As advisers with HMO landlord clients will know, valuations for these types of properties can be expensive so this should be a considerable saving for clients from the outset.
“We continue to offer a strong range of both standard buy-to-let products while our specials range for landlords remains at the same pricing as when we launched them in January, offering highly-competitive rates for those clients seeking to either refinance their properties or purchase in order to add to their portfolios.
“At Foundation we are seeing strong ongoing landlord appetite and activity, and we’re here to work closely with advisers and their clients to ensure they get the right finance at competitive rates.”
