Foundation Home Loans

Foundation launches new BTL limited-edition product




Intermediary-only specialist lender Foundation Home Loans has launched a new BTL limited-edition product.

Available as part of the lender’s F1 product range for borrowers with an almost clean credit history, it offers loans up to £1m to both limited company and individual clients looking to remortgage or purchase.

The product is available at up to 75% LTV, priced at 4.99% fixed for five years with no application fees.

It also comes with one free valuation and a product fee of 2%.

As a five-year fixed-rate product, ICR is calculated using the pay rate of 4.99% and stress tested at 125% for limited companies and basic rate taxpayers, and 145% for other landlord types.

George Gee, managing director (commercial) at Foundation, said he was pleased to bring the new product to market.

“One of our key focuses over the past year has been maintaining service levels, and structuring the business to ensure we can continue to operate at the highest standard.

“We know that a one-day turnaround is far from the norm right now, and we want advisers and their clients to be aware that this is available with Foundation and that we have a full BTL and residential product range — including this new product — that they might wish to take advantage of.

“Foundation has a strong appetite to lend and a commitment to service that should make the lives of advisers and their clients a lot easier.”

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