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Foundation Home Loans brings out green buy-to-let discount products

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  • 06/09/2022
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Foundation Home Loans brings out green buy-to-let discount products
Intermediary-only specialist lender Foundation Home Loans has added special edition two-year buy-to-let discounted products up to 75 per cent loan to value (LTV).

The products are part of its ABC+ Green mortgage range and are eligible for limited companies and individuals for remortgage or purchase.

They have an enhanced maximum loan size of £1.5m at 75 per cent LTV.

The products are available as part of its F1 product range, which is for borrowers with an almost clean credit history, and rates start at 3.49 per cent. This is a 3.25 per cent discount.

For houses in multiple occupation (HMO), defined as up to six occupants, the two-year discount is 3.74 per cent. This is a 3 per cent discount.

For short-term lets, there is a two-year discount at 3.84 per cent, which is a 2.9 per cent discount.

The products are not subject to early repayment charges and are subject to a 1.5 per cent product fee.

 

Energy efficiency key for landlords

George Gee, managing director for commercial at Foundation Home Loans, said that in the latest BDRC landlord panel survey in Q2, two third of landlords planned to buy property in the next year for property rated A to C.

He added over half of landlords who had bought properties in last three months had purchased a property with an EPC rating of A to C.

He said this showed the “changing attitudes and appetites from landlords” for energy-related performance, and that this would grow due to upcoming legislation changes.

Gee continued: “This enhancement to our ABC+ Green Mortgage range, through the addition of a set of special edition two-year buy-to-let discounts, underlines our ongoing commitment to supporting the green agenda and in providing options to those landlords who are looking to add to their portfolios or remortgage existing properties within them.

“We are only at the beginning of the green mortgage journey, and we will continue to drive positive change where possible throughout our buy-to-let and residential propositions.”

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