Jeff Knight

Foundation Home Loans introduces two new 80% LTV products

Foundation Home Loans has launched two new 80% LTV products in its core BTL range for individual borrowers and limited companies.

The offering include a 4.29% two-year fixed rate and 4.79% five-year fixed rate; both come with 2% fees.

It has also made products that were launched exclusively for its key packager partners last month available for all intermediaries.

They include two-year variable offerings, priced at 3.34% up to 65% LTV, or 3.69% up to 75% LTV for standard HMOs.
For large HMOs and MUBs — HMOs to a maximum of eight bedrooms and all MUBs to a maximum of 10 units — the rate is 3.44% up to 65% LTV, or 3.79% up to 75% LTV.

Along with these changes, Foundation has introduced a new packager-only exclusive: a five-year fixed rate of 3.89%, with a 1% product fee, no application fee, and a free standard valuation.

The news follows the lender’s reduction of its two-year BTL rates within its standard property range for both individual and limited company borrowers, which include:

  • an F1 3.24% fixed rate — reduced from 3.39% — available at 75% LTV with a 2% fee
  • a 3.49% fixed rate — reduced from 3.69% — available at 75% LTV with a 2% fee in the F2 range
  • a new F1 3.44% two-year fixed rate product available up to 65% LTV with a flat £1,995 fee
  • a new F1 3.64% two-year fixed rate product available up to 75% LTV with a flat £1,995 fee.

Jeff Knight, director of marketing at Foundation Home Loans (pictured above), said: “Demand has increased and, from [our] perspective, July is likely to be a record month for us. 

“Packager exclusives are still core to our offering though and we have been able to launch a five-year fixed rate product [this week] just for these partner firms.

“Activity levels have grown quickly in a short space of time, and we remain fully committed and fully funded in order to offer advisers a wealth of product options to their landlord clients.” 

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