Foundation Home Loans

Foundation launches green BTL products for HMOs and short-term lets

Foundation Home Loans has expanded its ABC+ green BTL product range by adding new options for specialist property types, including short-term lets and standard HMOs up to six occupants.

The new products offer loans up to £1m at 75% LTV on a five-year fixed term, and come with a 0.75% fee.

Rates start from 3.44% for the green standard HMO product and 3.94% for the green short-term let option.

Rates are tiered depending on the EPC rating of the property, with those at an A level securing the most competitive rate. 

Both products benefit from a tiered cashback payment of up to £750 on completion of the mortgage. 

They also allow early remortgaging for those landlords who purchase a property, upgrade it using bridging finance and are then seeking to move to a standard BTL deal.

George Gee, managing director for commercial at Foundation Home Loans, said: “Following our initial launch of our green reward mortgage range last year, we are keen to ensure we remain at the cutting edge of product design and activity in this space. 

“Feedback on our green-focused proposition has been excellent and we believe we have forged a reputation as a leader in this field. 

“To that end, and to show our further commitment to support the green agenda, we are launching these ABC+ products for landlords seeking to purchase or remortgage specialist product types, such as short-term lets and standard HMOs. 

“These products mirror our Green ABC+ range for standard BTL properties, providing tiered rates and cashback depending on the EPC level.”

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