You are here: Home - News -

Foundation ups loan limits as Kensington raises LTVs – buy-to-let roundup

by:
  • 14/06/2018
  • 0
Foundation ups loan limits as Kensington raises LTVs – buy-to-let roundup
Specialist lender Foundation Home Loans has increased borrowing limits across its buy-to-let range and Kensington Mortgages has increased its buy-to-let loans to 85% loan to value (LTV).

 

Both lenders have also cut rates on many of their products.

Foundation Home Loans has increased its maximum loan size at 75% LTV to £750,000 from £500,000. The maximum loan at 65% LTV of £1m is unchanged.

Five-year fixed rates now start at 3.19%, which are available for limited companies and individuals. For its Houses in Multiple Occupation (HMO) products, five-year fixed rates start at 3.54%. For all five-year fixes, interest cover ratios (ICRs) are calculated at pay rate.

Andrew Ferguson, commercial director at Foundation Home Loans, said: “By increasing our maximum loan size at the upper LTV band of 75%, we will now be able to offer solutions to more landlord clients.”

 

Kensington LTV boost

Kensington Mortgages has updated its offering to give BTL landlords a wider range of product choices by offering deals at up to 85% LTV.

Rates have also been cut by up to 0.45%, starting from 2.69% for a two-year fixed rate at 70% LTV. The updated proposals will also include new zero completion fees and free valuations products, as well as a new one-year early repayment charge (ERC) fixed rate.

Craig McKinlay, sales & marketing director at Kensington Mortgages, said: “I’m confident that this latest enhancement to our buy-to-let range will be received positively by our intermediaries.

“What’s more, this is a continuation in a series of announcements that we at Kensington will be making to further enhance our BTL range and will be sharing over the coming weeks.”

There are 0 Comment(s)

Comments are closed.

You may also be interested in

Bridging

Keep up-to-date with all the breaking bridging and short-term lending news and analysis, from regulatory changes to product innovation and inside market knowledge. Take a look at our broker and lender case studies showing short-term finance in practice.

Commercial

Find all the news, opinion and analysis for property finance brokers specialising in commercial and semi-commercial mortgages, alternative and development finance for commercial investments in residential projects.

Second charge

Stay up-to-date with the latest news, analysis and opinion on the secured loan market as it evolves into a mainstream finance option following European regulation on 21 March 2016.

Complex buy-to-let

Whether it’s a complicated asset or a complex customer, you’ll find out all the breaking buy-to-let news in this section. From limited companies to portfolio landlords, student lets to a House in Multiple Occupation, we’ve got all bases covered with our up-to-the-minute news, analysis and opinion.

Mortgage Solutions

Find all the breaking news, analysis and industry comment on Specialist Lending Solutions' sister site, Mortgage Solutions
Read previous post:
head shot of Tony Salentino TSLE
Complete FS bolsters resi and BTL teams

Complete FS, the specialist lending packager, has appointed two staff members to its residential and BTL teams as introducer business...

Close