FHL launches dedicated HMO offering
By Darius McQuaidFoundation Home Loans has enhanced its buy-to-let range by introducing a new HMO product available to both individuals and limited companies with previous landlord experience
Section: mobile apps categories
The product comes with both two- and five-year fixed rates starting at 3.19% and 3.49% respectively, with no pricing differential for limited companies.
The maximum loan size is £500,000, the maximum term is 30 years and the maximum age at the end of term is 75.
There is no maximum age for limited company applicants.
The offer covers a maximum of eight bedrooms and intermediaries can also access the product for multi-unit blocks up to 10 flats.
Jeff Knight, marketing director of Foundation Home Loans, said: “We know that landlords with HMOs continue to achieve the highest rental yields – 1.1% above the average, according to recent research by BDRC – and seem to be growing in popularity.
“Speaking to some of our intermediary partners, they are delighted to be able to offer more choice to their clients with our new product range to help with their demand.”
Foundation Home Loans has also launched its residential product range in addition to its established buy-to-let proposition.
Keywords: Foundation Home Loans, Buy to Let, HMO product, landlords, maximum loan size, residential product range, Jeff Knight, Multi-Unit Blocks, maximum term,
Source: Bridging & Commercial — https://bridgingandcommercial.co.uk/fhl-launches-dedicated-hmo-offering