Foundation Home Loans offers new three-year buy-to-let fixes

Published on

Foundation Home Loans has launched new three-year fixed rates in its buy-to-let range.

The limited-edition product is designed for landlords who fit the ‘Standard Plus’ criteria, by having clean credit records, or are financing a House in Multiple Occupation (HMO) or Multi Unit Block (MUB).

The products are available to Limited Companies and individuals, with the rates the same for both client types.

Rates start at 3.19% (fixed until 31/01/2022) with  an arrangement fee of 1%. The product has an interest cover ratio (ICR) of 125% x 5.5% for Limited Companies and 145% x 5.5% for individuals. These ICRs apply to all applicant and property types, including HMOs and MUBs.

Andrew Ferguson, commercial director at Foundation Home Loans, said: “With ongoing uncertainty in the market and the full effect of the buy-to-let tax changes materialising in 2021, we are confident these rates will give landlords an alternative solution to two and five-year deals, particularly as there is a real lack of three-year rates in the market.

“The products cater for all property types and have a competitive fee. We also believe that these rates will be popular amongst Limited Company clients, where we have been seeing an increase in demand.”

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

Expat buy-to-let rates rise sharply for lower-LTV borrowers

British expatriate landlords with larger deposits are facing higher mortgage rates than borrowers with...

Commonhold reform faces practical challenges over finance and building management

The introduction of commonhold as an alternative to leasehold will require significant preparation across...

Family BS reduces fixed mortgage pricing for landlords and homeowners

Family Building Society has cut rates across its two-year fixed mortgage range by up...

Sprive records ninefold rise in shoppers as mortgage cashback spending reaches £185m

Mortgage cashback app Sprive has reported a sharp increase in customer activity, with shoppers...

Mortgage deals last just 15 days as volatility hits record high

Mortgage products are lasting just 15 days on average this year as lenders repeatedly...

Latest publication

Other news

Expat buy-to-let rates rise sharply for lower-LTV borrowers

British expatriate landlords with larger deposits are facing higher mortgage rates than borrowers with...

Commonhold reform faces practical challenges over finance and building management

The introduction of commonhold as an alternative to leasehold will require significant preparation across...

Buy-to-let and the next generation of landlords

There has been plenty of discussion recently about the future of buy-to-let, whether landlords...