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.”