Foundation has relaunched its enhanced Property Plus proposition, introducing lower valuation costs and a new limited-edition product designed to help brokers place specialist buy-to-let cases that often fall outside mainstream lending criteria.
The intermediary-only lender said the refreshed proposition will support landlords investing in more complex property types, including flats above or adjacent to commercial premises and other specialist investment properties that can deliver stronger yields but often prove harder to finance.
The enhancements also extend to Foundation’s Short Term Let Plus range, aimed at landlords operating in the growing holiday let and short-term rental market.
The refreshed range includes a new limited-edition 5-year fixed rate at 6.59% up to 75% loan-to-value, carrying a 1% fee, free valuation and no application fee.
REDUCING COSTS
Foundation said the changes follow collaboration with valuation partners Connells and e.surv, alongside its own credit risk team, with the aim of reducing costs and improving valuation certainty on specialist property types.
Grant Hendry (main picture), director of sales at Foundation, said: “The specialist buy to let market continues to evolve and landlords are increasingly looking beyond traditional property types in order to achieve their investment objectives.
“However, many of these properties can present challenges when placed with mainstream lenders, often resulting in declined applications or nil valuations despite having strong underlying investment fundamentals.
“Property Plus was specifically created to address that gap and these latest enhancements make the proposition even more accessible.
“By introducing reduced valuation costs, improving certainty within the application process and working closely with Connells and e.surv to broaden valuation capabilities, we have removed a number of the barriers that can prevent these cases from progressing.”
MORE OPTIONS
He added: “Ultimately, this is about giving brokers more options, helping landlords access funding for suitable specialist properties at a lower cost and ensuring good cases are not lost unnecessarily because they fall outside traditional lending criteria.”
Ben Leroy, client services director at Connells, said: “We’re genuinely excited to be partnering with Foundation on their innovative Property Plus proposition – unlocking new opportunities for landlords and enabling purchases that might previously have fallen outside the scope of traditional lending.”
And Eloise Hall, strategic relationship director at e.surv, added: “Foundation’s Property Plus proposition reflects the direction the market is moving, towards more flexible lending that better supports real customer scenarios.
“We’re excited to support this with our data-driven valuation approach and property risk expertise, helping turn new opportunities into confident lending decisions brokers can rely on.
“We are proud to strengthen our partnership with Foundation and play a key role in bringing this proposition to life and supporting its success in the market.”
