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Foundation Home Loans has restarted offering buy-to-let products for first-time landlords.
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Two-year rates start at 2.94% and five-year deals from 3.54%, while the lender has increased LTVs to 75%, including for HMOs and Multi Unit Blocks.
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Foundation has also launched a new five-year ‘fixed fee’ product for F1 borrowers, for those looking for larger loans.
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The product is offered at 3.84% up to 65% LTV or 4.29% up to 75% LTV and comes with a fee of £1,995.
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Jeff Knight, director of marketing at Foundation Home Loans, said: “Since returning to new lending last month, we’ve seen a growing interest from advisers and landlords as they seek to both refinance and add to their portfolios.
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“As the market continues to change, we have taken the decision to enhance our product offering, broaden our criteria and introduce new products which we believe provide a greater degree of flexibility for landlords whose circumstances may well change over the next 12 months.
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“Our variable rate products have no ERCs attached and mean that landlords will be able to remortgage with no additional costs in the future.
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“Also, our new ‘fixed fee’ product cuts down on the overall and upfront costs for landlords and may be particularly applicable for those landlords seeking larger loans.
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“We’re also very pleased to be able to introduce our 125% ICR level for limited company borrowers, plus those who are basic-rate taxpayers.”
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BY RYAN BEMBRIDGE
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Source: Property Wire
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