Foundation Home Loans has overhauled its buy-to-let Specials range, raising loan limits, introducing new 80% loan-to-value (LTV) products and cutting rates across several tiers.
The intermediary-only specialist lender has lifted maximum loan sizes to £3m at 65% LTV – with £5m available by exception – £3m at 70% LTV, £2m at 75% LTV and £750,000 at 80% LTV.
The increases apply to standard properties, with lending on houses in multiple occupation (HMOs), multi-unit freehold blocks (MUFBs) and short-term lets remaining capped at £1m up to 75% LTV.
HIGHER LTV
A new 80% LTV option has been added to the range, offering loans up to £750,000, with HMOs and MUFBs also now eligible. Foundation said the move was designed to broaden its appeal to landlords seeking higher leverage or gearing for portfolio expansion.
Rates in the refreshed range start from 3.89% for F1 two-year fixes at 65% LTV, with new pricing at 70% and 80% LTV carrying a 4% fee. New F1 five-year fixes are available from 4.74%, with a 6% fee for 65% to 75% LTV and a 4% fee for 80% LTV.
On the specialist side, F2 HMO two-year fixes have been cut by 10 basis points to start at 4.44%, and are now available up to 80% LTV at 4.84%. F2 MUFB five-year fixes start at 5.39%, with a new 80% LTV option at 5.79%.
The Specials range remains open to both individual and limited company borrowers, with the lender stressing its focus on large and complex cases.
Tom Jacob, director of product and marketing at Foundation Home Loans, said: “These enhancements demonstrate our clear commitment to supporting brokers and their clients with larger, more complex buy-to-let requirements.
“By offering loans up to £3m – and £5m by exception – and extending our lending with new 80% LTV options, as well as further price cuts, we’re giving brokers the flexibility to place big-ticket cases with confidence.
“We’ve refreshed our Specials range to ensure there’s a competitive solution for every type of landlord, from standard F1 products through to F2 HMO and MUFB lending. The removal of previous loan caps and the alignment of aggregate borrowing limits also makes it simpler for experienced landlords to scale their portfolios without unnecessary hurdles.”
He added that the changes are part of the lender’s strategy to be “the first port of call” for brokers dealing with larger loan specialist buy-to-let cases.
