Foundation Home Loans has increased its maximum BTL loan size to £3m as part of a relaunch of this range.
This increase has been made in direct response to the growing demand from portfolio landlords and those with specialist needs, according to the lender.
The relaunch has seen rates cut for F1 clients, those with almost clean credit history, with two-year fixed-rate mortgages reduced by 5bps to 5.60% with a 1% fee.
For F2 clients, those with more specialist property types, a two-year, fixed-rate HMO product has been introduced at 75% LTV.
This product is available at 5.75% with a 1% fee.
Additionally, new fixed-rate “Green ABC+” products have been introduced for both F1 and F2 clients, in relation to properties with EPC ratings of C and above.
Available up to 70% LTV, rates on this product start from 5.79% with a 1.25% fee.
The maximum loan size for this is smaller, at £2m, but carries no application fee with Foundation offering a free valuation.
Foundation has also cut rates on selected F2 products, including specialist categories such as expat borrowers and complex property types, with rate reductions of up to 15bps.
“Coupled with a complete refresh of our full range of buy to let products, today’s update reaffirms our focus on delivering flexible, competitive solutions for all types of landlords – from those purchasing in a limited company structure, to those with HMOs, specialist properties, or who live overseas,” said Tom Jacob, director of product and proposition at Foundation Home Loans.
“The breadth and depth of our product and criteria offering continues to grow, as we seek to fill the gaps that exist in the BTL marketplace, and ensure advisers have access to a market-leading proposition that can help them find the right solutions for their landlord clients, each and every time.”
