The F2 buy-to-let proposition is available for both portfolio and non-portfolio landlord borrowers with some historic credit blips, and the F2 extra products cover extra large houses in multiple occupation (HMO) properties, holiday lets, extra large portfolios and extra large loans.
The F2 extra range was piloted with selected buy-to-let partners and packagers, and is accepting applications from advisers.
The products include an extra large HMO with fixed rates starting from 7.04 per cent, available up to 65 per cent loan to value (LTV).
The holiday let extra products begin from 6.94 per cent and are available up to 70 per cent LTV.
Extra large portfolio deals are priced from 6.94 per cent and are available up to 70 per cent LTV.
Extra large loans fixed rates start from 6.89 per cent, available up to 70 per cent LTV.
The lender is no longer limiting aggregate portfolio borrowing to £5m and existing core products can be used in a large portfolio below £5m, while these F2 extra products can be used for the part of the portfolio above this amount.
Foundation: Beyond the specialist market
Tom Jacob, director of product and marketing at Foundation Home Loans, said: “These new product options – now available to all advisers – plus our criteria changes for extra portfolio and extra large loans, allow us to broaden the buy-to-let mortgage choice to advisers and their landlord borrower clients, and are specifically designed for landlord requirements or property types beyond those catered for in the specialist market.
“We believe this opens up wider finance options in these spaces for landlords to utilise in either purchasing or remortgaging, and we believe they will be particularly relevant for those who might ordinarily have to use costlier lending options.”
He added: “As advisers will know, we take an individual approach to underwriting of more complex buy-to-let cases, and have the ability to assess the whole case on its merits, considering the landlord’s entire property portfolio as required.
“Applications received on these F2 Extra products will be managed by a dedicated team of experienced underwriters familiar with complex property types and niche areas, and we will be maintaining our strong service levels in this area.”
