Specialist lender Foundation Home Loans has introduced two new limited-edition BTL products in its F1 tier.
The two- and five-year fixed-rate options are available for individual and limited company clients with an almost clean credit history who are looking to purchase and remortgage BTL properties.
They offer loans up to £1.5m at a maximum 75% LTV — the two-year fix is priced at 5.94% with a product fee of £1,995, while the five-year fix has a rate of 5.59% and a product fee of £4,995.
George Gee, managing director (commercial) at Foundation Home Loans, said: “We are always looking at product options for landlord borrowers, particularly when it comes to fixed-rates where customers are able to be crystal clear on their monthly mortgage payment amounts — in this case, over a two- or five-year period.
“With these limited-edition specials, we’ve been able to offer competitive rates with a fixed product fee which will help manage upfront costs, while also helping some landlords in terms of any affordability challenges they might be having.
“We’ll continue to look regularly at what we can offer in the BTL space and support advisers who have landlord clients with more complex and specialist needs.”
