Foundation Home Loans has updated its Buy to Let Specials, providing competitive rates and varied options.
- The Specials feature two tiers: F1 for near-clean credit and F2 for specialist or credit-affected clients.
- Options cater to different landlord profiles, including HMOs and multi-unit blocks.
- Products include F1 two-year fixed rates starting at 4.74% and five-year rates at 5.19%.
- Director Tom Jacob highlights flexibility and wide-ranging choices for landlords.
Foundation Home Loans has announced an update to its Buy to Let Specials range, offering new and competitive rates effective from 12th November 2024. This revamped specials range is strategically designed with two distinct tiers tailored for varied borrower needs. The F1 tier is aimed at individuals maintaining a near-clean credit history, while the F2 tier specifically accommodates clients dealing with specialist properties or those with certain credit issues. Targeting a broad spectrum of landlord profiles, these products are particularly beneficial for portfolio landlords, individual landlords, as well as those managing houses in multiple occupation (HMOs) and multi-unit freehold blocks (MUFBs).
Key offerings from this updated range include F1 two-year fixed-rate Specials starting at a competitive 4.74%, carrying a fee of 4%, with loans available at both 65% and 75% loan-to-value (LTV). For portfolio landlords exclusively, the five-year fixed rates commence at 5.19% with a 6% fee, similarly available at 65% and 75% LTV. Additionally, fee-assisted five-year fixes are available from 5.39% with a 5% fee. As part of the F2 tier, two and five-year fixed rates for standard HMO and MUFB borrowers begin at 5.29% with a 3% fee, also offered at 65% and 75% LTV.
Tom Jacob, the director of product and marketing at Foundation Home Loans, elaborately spoke about the relaunch, emphasising the extensive selection of options provided. According to Jacob, “These relaunched buy-to-let Specials are not just available across two of our tiers but also cover a number of borrower and property types, with different terms, LTVs and fee structures.” Such a diversity of offerings is carefully engineered to adequately support the requirements of various landlord borrower needs and circumstances.
Jacob further expressed optimism regarding the recently clarified financial landscape, stating that with the national Budget being settled, there is a greater level of confidence anticipated among landlord borrowers when it comes to financial decision-making. He anticipates heightened activity for advisers as they help clients navigate these offerings. “Available from today, for both remortgage and purchase, the rates on offer are some of the best Foundation currently offers, with our two-year fix starting from 4.74%, while our five-year deal for portfolio landlords only, starts from 5.19%,” Jacob noted, highlighting the appeal of these rates in the current market.
Ultimately, these products are seen as both strong and compelling offerings, with Jacob encouraging advisors to coordinate with Foundation’s sales team to explore how these can meet client needs effectively.
These updated buy-to-let options from Foundation Home Loans offer landlords diverse and attractive financing solutions.
