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Foundation Home Loans adds 85 per cent LTV BTL products

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  • 16/12/2021
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Foundation Home Loans adds 85 per cent LTV BTL products
Foundation Home Loans has released 85 per cent loan to value (LTV) buy-to-let (BTL) products, the first time it has issued such products at this tier.

The maximum LTV previously was 80 per cent and the lowest was 65 per cent.

The products are in its F1 range, which is aimed at clients with an almost clean credit history, and includes a two and five-year fixed rate. The two-year fixed rate is priced at 4.79 per cent and the five-year fixed rate is at 4.99 per cent.

The products have no product fees and are available for limited companies, individuals and portfolio landlords.

There is a minimum property value of £125,000 and rental income for the five-year fixed rate is determined at the pay-rate.

George Gee (pictured), commercial director at Foundation Home Loans, said: “In terms of pre-Christmas presents for the adviser community and their landlord clients, we don’t think it gets any better than Foundation increasing our maximum LTV and being able to offer 85 per cent LTV products on buy-to-let for the very first time.”

He added that the expansion came as a result of strong demand for increased LTVs. He said as it had no product fees and many types of landlords were eligible, he hoped it would “go down well with advisers”.

Gee said: “Landlords continue to look at the current property market, with strong tenant demand and yield, as an opportunity to grow their portfolios and, as a specialist in this sector, we believe our range can help them fulfil their ambitions via their trusted advisers.”

The lender has been making a number of changes to its offering, including adding two 90 per cent LTV house purchase fixed rate and two products to its professional range.

It also launched six times income products for professional borrowers in November.

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