Buy to Let by Foundation and Zephyr Homeloans have announced several changes across their BTL product ranges.
Buy to Let by Foundation
Buy to Let by Foundation — Foundation Home Loans’ BTL brand — has introduced a new limited-edition two-year fix to its core F1 proposition.
Available to limited company and individual borrowers for both purchase and remortgage purposes, the new option is offered at 5.79% at up to 75% LTV, with a 1% fee.
Tom Jacob, director of product and marketing at Foundation Home Loans, said: “We are seeing sustained appetite for two-year fixed-rate products as a variety of landlords are looking to secure competitive rates which also offer them an opportunity to reappraise the market in the near future.
“The introduction of this limited-edition two-year fix will help provide additional choice within what remains an active marketplace.
“In addition, improved stress rates on the rental cover calculation required for our sub five-year BTL rates mean that this product will now be more accessible to a greater number of landlords based on their rental income.”
Zephyr Homeloans
Zephyr Homeloans has cut rates across its five-year fixed and lifetime tracker mortgages by 15 basis points.
Following this, landlords with properties with an A-C EPC rating can get a five-year standard BTL fix at 65% LTV for 5.15%, with a 5% product fee, or a lifetime tracker BTL mortgage at 65% LTV for 6.79%, with a 3% product fee.
For properties rated D or E, the lender is offering a five-year standard fix at 65% LTV — with a 5% product fee — at 5.25%, and a lifetime tracker mortgage at 65% LTV for 6.89%, with a 3% fee.
Paul Fryers, managing director at Zephyr Homeloans, said: “It’s great to be able to offer reductions to brokers for their BTL landlord customers, as we hopefully start to see some green shoots of recovery for the market in 2024.”
