Foundation Home Loans improves fee-assisted BTL offering

Published on

Foundation Home Loans has made a series of changes to its fee-assisted buy-to-let product range including fee cuts, the introduction of new 80% LTV products, and new limited edition specialist fee-assisted products.

Fees for its two and five-year fixed rates in the buy-to-let F1 fee-assisted product range at 75% LTV have been cut by £1,000 from £1,495 to £495. Rates available here are 3.29% for a two-year fix, and 3.39% for a five-year fix.

Foundation has also introduced new 80% LTV fee-assisted F1 products, also with a flat £495 fee, with a rate of 3.79% for a two-year fix and 3.99% for a five-year fix.

These new fee-assisted products are available for both purchase and remortgage, come with no application fee, and one free standard valuation.

The lender has also launched ‘Limited Edition’ specialist property fee-assisted products for landlords purchasing or remortgaging an HMO (up to six occupants) or a short-term let property.

These are 75% LTV products with prices at 3.44% for a two-year fix/3.64% for a five-year fix for HMOs, and 3.79% for a two-year fix/4.14% for a five-year fix for short-term lets. Again, these products come with the reduced £495 product fee, no application fee, and one free standard valuation. These specialist property fee-assisted products are available up to a maximum loan size of £750k.

The changes to its fee-assisted range follow Foundation’s expansion of its Green buy-to-let product range last week and also its Expats specialist product range to provide for specialist property types including short-term lets and standard HMOs (up to six occupants).

George Gee, managing director (commercial) at Foundation Home Loans, said: “Upfront costs play a significant role in landlord finance decisions and Foundation is acutely aware of the difference fee-assisted products can make in this regard. We are now in a position to cut our fees even further, by £1,000, and can also introduce a fee-assisted 80% LTV product range plus fee-assisted options for those looking to purchase or remortgage HMOs or short-term lets.

“These specialist property types are becoming more popular so this should help a much wider range of landlords with those immediate costs, and with the added benefit of no application fee and a free standard valuation, this should make a significant difference to landlords’ upfront outlay, whether they are purchasing or remortgaging.”

Latest POLL

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Square 1 Media announces May Mortgage Market Debate

Square 1 Media is to hold its next Mortgage Market Debate on Wednesday, 21 May,...

Coventry BS maintains status as one of the best workplaces

Coventry Building Society has been named one of Great Place to Work's UK’s Best...

Atom bank breaks Near Prime record

Atom bank has reported another record-breaking month for Near Prime activity. Over the course of...

Berkeley Alexander appoints new BDM

General insurance provider Berkeley Alexander has announced the appointment of Grant Robinson as a...

Other news

Lenders must step up on high LTV products

Things are on the up for borrowers with a smaller deposit. The financial information...

Square 1 Media announces May Mortgage Market Debate

Square 1 Media is to hold its next Mortgage Market Debate on Wednesday, 21 May,...

Coventry BS maintains status as one of the best workplaces

Coventry Building Society has been named one of Great Place to Work's UK’s Best...