Jeff Knight

Foundation Home Loans refreshes entire BTL range




Intermediary-only specialist lender Foundation Home Loans has refreshed its entire BTL product range with immediate effect.

The update includes the addition of several new products, cuts to product fees and the extension of all product end dates.
 
Highlights from the new range included:
 
  • fees halved to 1% for all two-year fixed rate products
  • the fee for the lender’s BTL five-year remortgage special has been reduced to £2,495, a reduction of £500
  • Foundation Home Loans has also cut the fee on its five-year fixed BTL ‘ERC 3’ product to 1%
  • a brand-new five-year fix, 80% LTV BTL product has been introduced within its F1 tier for borrowers with a near-perfect credit record with a rate of 4.24% and a flat product fee of £1,995
  • there’s a number of products for portfolio landlord borrowers requiring smaller loans with a minimum loan size of £30,000 instead of £50,000
  • end dates for all products have changed, with two-year deals going up to the end of July 2022 and five-year deals ending July 2025
 
Jeff Knight, director of marketing at Foundation Home Loans (pictured above), said: “There has undoubtedly been a shift towards adding to portfolios in recent months, particularly by portfolio and professional landlords, and this new range recognises the specific needs of today’s landlord, whether they want to add lower-value properties or they want to access higher-yielding HMOs or multi-unit blocks.”

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