Foundation introduces no-fee limited-edition product range

Foundation Home Loans has launched a no-fee limited-edition BTL range exclusively for portfolio landlords.

The two-year fixed-rate products offer loans up to £750,000 at 3.24% for standard BTL and 3.44% for standard HMOs (up to six occupants).

Both have no product or application fees and come with one free standard valuation.

The limited-edition portfolio landlord suite is available for purchase and remortgage purposes for individuals or limited company borrowers. 

The rental cover requirement is calculated at a notional rate of 5.5%, including for HMOs, and stress tested at 125% for limited companies and basic rate taxpayers, and 145% for all others.

George Gee, commercial director at Foundation Home Loans, said: “We are experiencing sustained activity across the BTL marketplace, so these limited-edition products provide further options for those portfolio landlords who may prefer a shorter fixed term or are looking to finance a specialist property type. 

“Upfront costs can prove a real issue for some landlords who are looking to secure a competitive rate and can offer especially good value to those purchasing or remortgaging multiple properties. 

“By introducing these ‘no-fee’ products we are aiming to deliver a product range which offers portfolio landlords access to greater flexibility.”

Earlier this month, Foundation Home Loans also revised prices across its BTL range and introduced a limited edition five-year fixed-rate product for portfolio landlords, as well as introduced three two-year fixed-rate green mortgage products on variable discount rates.

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