Foundation Home Loans has announced a substantial increase to its maximum loan size across its buy-to-let mortgage range, with most 65% loan-to-value (LTV) products now available up to £3 million.
The intermediary-only lender revealed the changes as part of a wider refresh of its buy-to-let offering, which comes into effect from today. The move is aimed squarely at supporting portfolio landlords and specialist borrowers with more complex needs, as demand for higher loan values continues to rise in the sector.
Foundation’s expanded offering includes both repriced and entirely new products. Among them is a two-year fixed-rate F1 Limited Edition mortgage at 75% LTV, now priced at 5.60% with a 1% fee, following a five-basis point reduction. The F1 range is designed for clients with near-clean credit histories.
Also new to the range is an F2 two-year fixed-rate product tailored to more specialist property types, such as HMOs. Available at 75% LTV, it is priced at 5.75%, again with a 1% fee. In addition, Foundation has launched Green ABC+ mortgages under both the F1 and F2 labels. These five-year fixes are targeted at properties with EPC ratings between A and C, and offer rates from 5.79% at up to 70% LTV. These green products carry a 1.25% fee, no application fee and include a free valuation, with loans available up to £2 million.
Rates on a number of F2 products have also been trimmed, with reductions of up to 15 basis points across various specialist categories including expat lending and complex property types.
The product changes follow the earlier rollout of Foundation’s Property Plus and HMO Plus offerings, which cater to properties that fall outside the lender’s core criteria. The lender also remains active in other niches such as Short Term Lets, Holiday Lets, Expat mortgages, and loans for multiple properties on a single title or mixed-use developments.
Tom Jacob, director of product and Proposition at Foundation Home Loans, said the latest changes were a direct response to broker feedback and evolving market needs.
“Our goal at Foundation is to ensure our proposition evolves in line with the needs of our intermediary partners and their landlord clients. Increasing the maximum loan size to £3 million on the majority of our lower LTV products is a direct response to broker feedback and market demand,” he said.
“Coupled with a complete refresh of our full range of buy-to-let products, today’s update reaffirms our focus on delivering flexible, competitive solutions for all types of landlords – from those purchasing in a limited company structure, to those with HMOs, specialist properties, or who live overseas.”
Foundation added that its sales team remains available to assist brokers with case placement and queries on the new criteria.
