Foundation Home Loans has revitalised its ‘Buy to Let’ Specials range with fresh interest rates starting today.
- The revamped range is structured into two tiers designed for various credit histories and property types.
- The F1 tier targets individuals with almost clean credit records, while the F2 tier caters to those financing unique properties or having credit issues.
- Foundation’s offerings cover a wide spectrum, accommodating portfolio landlords, individual landlords, HMOs, and MUFBs.
- Director Tom Jacob emphasises the broad scope of these products to meet diverse borrower needs.
Foundation Home Loans has reintroduced its ‘Buy to Let’ Specials, effective as of 12th November 2024, with newly adjusted rates. This move aims to offer a wider array of options for landlords under two principal categories: F1 and F2. The F1 category is engineered for clients with a near-clean credit history, whereas the F2 is tailored for clients managing specialist properties or those with some credit issues. These special deals are particularly focused on portfolio landlords, individual landlords, as well as houses in multiple occupation (HMOs) and multi-unit freehold blocks (MUFBs).
In a detailed description of the product tiers, F1’s 2-year fixed-rate specials commence at 4.74% with a 4% fee, available at both 65% and 75% loan-to-value (LTV). For portfolio landlords, the 5-year fixed rates start at 5.19%, carrying a 6% fee, and are also obtainable at 65% and 75% LTV. Additionally, fee-assisted 5-year fixes begin from 5.39% with a 5% fee. The F2 tier provides 2- and 5-year fixed rates starting from 5.29% with a 3% fee, again at both 65% and 75% LTV.
Tom Jacob, director of product and marketing, remarked that the relaunched specials are designed to cater to a variety of borrower and property types with diverse terms, LTVs, and fee structures. 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.” By creating such a comprehensive offering, Foundation Home Loans aims to provide advisors with an extensive range of solutions to suit the diverse needs of landlord borrowers.
These updated offerings come at a time when the financial landscape is becoming clearer, post-budget. Jacob expressed optimism that with these products, landlord borrowers will feel more confident in their financial decisions. He mentioned: “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%.” He anticipates an uptick in activity from advisers who will find these solutions suitable for their clients.
The revamped specials by Foundation Home Loans are set to offer landlords more flexible choices to navigate the current economic environment.
