Foundation launches new limited-edition BTL product

Foundation Home Loans has added a new ‘festive’ limited-edition product for landlord borrowers to its BTL suite.

The five-year fixed-rate option offers loans between £250,000 and £1m at a rate of 3.04%, available for purchases and remortgages for standard and limited company BTL customers, as well as portfolio landlords.

The product comes with a flat fee of £1,995.

The ICR is calculated at the pay rate of 3.04% for the five-year fix, stress tested at 125% for limited companies and basic-rate taxpayers and 145% for all other borrower types.

George Gee, commercial director at Foundation Home Loans, said: “‘Tis the season to be jolly and at Foundation we want to sprinkle a little joy throughout December with the launch of this new ‘festive’ fixed-rate special. 

“This fits within our F1 range for those landlords with near-mainstream credit who are looking for larger loan sizes between £250,000 and £1m.

“As this product, much like the festive season, unfortunately won’t be around forever, we would urge advisers to contact us if they have suitable clients.”

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