Foundation Home Loans has launched a new five-year fixed-rate product as part of its BTL range.
Available from today (21st July) — for both individual landlord borrowers and limited companies — the limited-edition deal is a F1 tier product for those with an almost clean credit history.
It is offered at a rate of 6.69% with a flat fee of £2,995, and is offered up to 75% LTV.
Foundation’s current service levels continue to average turnaround times of one day for DIP referral, application, and underwriter review for all cases.
Tom Jacob, director of product and marketing at Foundation, commented: “Even prior to the publication of the latest inflation figures, we were seeing an easing of swap rates off their most recent highs, and as a result of this shift we are able to launch this limited-edition five-year fix for BTL borrowers at a keener rate.
“Five-year fixes remain popular in terms of both meeting affordability measures, ensuring borrowers can secure the right loan amount, and in terms of providing monthly mortgage payment certainty.
“As always, we keep a very close eye on the money markets and the sector itself, to ensure that if the direction of travel remains the same, we can take the opportunity to provide competitive product options.”
