Foundation Home Loans has reintroduced its buy-to-let five-year fixed rate product which comes with three years of early repayment charges (ERCs).

The product is launched as part of Foundation’s F1 range – for borrowers with an almost clean credit history – and is offered up to 75% LTV with a rate of 3.64%. The product comes with an ICR based on the pay rate, available at 125% for limited company and basic-rate taxpayer borrowers and 145% for others – there is a maximum loan amount of £1m.

The ERCs for the first three years are 5%/4%/3% and the product comes with a 2% product fee.

George Gee, commercial director at Foundation Home Loans, said: “We have been running this product at various points over the last two years in response to market demand, and feedback from brokers indicates that now is the right time to offer it again as part of our product suite.

“With many advisory firms seeing an increase in both remortgage and purchase demand from their landlord client base, we believe it’s important to continue to provide product options that can deliver both payment certainty over a longer time-frame, but also providing an element of flexibility with the borrower able to look at their options in three years without having to pay an ERC.”