Foundation Home Loans has expanded its buy-to-let range with new products for larger houses in multiple occupation (HMOs), multi-unit freehold blocks (MUFBs), and expats.
New offerings include a 5-year fixed-rate mortgage up to 75% loan-to-value (LTV) for clients with an almost clean credit history, available at a rate of 5.99% with a 1.5% fee.
For clients with minor credit issues, there is a 5-year fixed-rate mortgage for holiday lets, available at 6.59% with a 2% fee.
Foundation also introduced new rates on existing products, such as the F1 Green Expat mortgage, which has a 5.99% rate for environmentally friendly properties and a 1.25% fee.
The F2 category for standard, HMO and MUFB products now starts at 6.09%, reflecting a rate reduction of 0.5%.
Large HMOs and MUFBs have seen rate reductions, starting at 6.19% and 5.99% respectively, both requiring a 2% fee.
Tom Jacob, director of product and marketing at Foundation Home Loans, said: “The addition of larger HMOs, MUFBs and expat products to our core ‘Buy to Let by Foundation’ range is a big step forward for the brand, providing access to a wider range of options for all landlord clients, but particularly those portfolio players who are looking to add or refinance such properties.
“We’re aware of many professional landlords with substantial portfolios who either have HMOs or MUFBs already, or are looking to purchase, or indeed are looking to change existing properties to higher-yielding, multi-tenanted ones.
“Adding these to our range, widens the options in such areas, plus we have added specific Expat borrower products covering both traditional lets but also holiday, HMO and MUFB as well.
“Overall, we believe these new additions will be welcome news for advisers active in the buy-to-let space as we seek to support the ongoing wants and needs of the landlord population.”
