Foundation Home Loans has increased the maximum loan size for its buy-to-let (BTL) products to £3m, targeting portfolio landlords and specialist borrowers who need larger loans.
This change forms part of a complete update of its BTL product range, which includes introducing new products and adjusting rates.
The company’s refreshed offerings now include an F1 2-year limited edition fixed-rate mortgage at 75% loan-to-value (LTV), with a rate lowered by 0.05% to 5.60% and a 1% fee.
There is also a new F2 2-year fixed-rate product for specialist properties like houses in multiple occupation (HMOs), available at 75% LTV with a 5.75% rate and 1% fee.
Additionally, new 5-year fixed-rate Green products for properties with an Energy Performance Certificate (EPC) level of A to C are offered up to 70% LTV, starting from rates of 5.79%, with a 1.25% fee and no application fee.
Foundation Home Loans has also reduced rates on select F2 products, benefiting groups such as expat borrowers and those with complex property types, with cuts up to 0.15%.
Tom Jacob (pictured), director of product and proposition at Foundation Home Loans, said: “Our goal at Foundation is to ensure our proposition evolves in line with the needs of our intermediary partners and their landlord clients.
“Increasing the maximum loan size to £3m on the majority of our lower LTV products is a direct response to broker feedback and market demand.
“Coupled with a complete refresh of our full range of buy to let products, today’s update reaffirms our focus on delivering flexible, competitive solutions for all types of landlords – from those purchasing in a limited company structure, to those with HMOs, specialist properties, or who live overseas.”
Jacob added: “The breadth and depth of our product and criteria offering continues to grow, as we seek to fill the gaps that exist in the buy to let marketplace, and ensure advisers have access to a market-leading proposition that can help them find the right solutions for their landlord clients, each and every time.”
