Foundation launches into 80 per cent LTV for BTL

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  • 30/07/2020
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Foundation launches into 80 per cent LTV for BTL
Foundation Home Loans has launched two 80 per cent loan to value (LTV) products in its core buy-to-let range for both individual borrowers and limited companies.

 

These include a 4.29 per cent two-year fixed rate and a 4.79 per cent five-year fixed rate. Both products have two per cent fees. 

Also, from today, products which were launched last month as exclusives for Foundation’s top packager partners are now available to the whole of the intermediary market. 

These products are two-year variable deals, priced at 3.34 per cent up to 65 per cent LTV or 3.69 per cent up to 75 per cent LTV for standard homes in multiple occupancy (HMOs) 

For larger HMO and multi-unit blocks (MUBs)the rate is 3.44 per cent up to 65 per cent LTV or 3.79 per cent up to 75 per cent LTV.  

These will be available on HMOs to a maximum of eight bedrooms and all MUBS to a maximum of 10 units. 

Foundation is also launching a packager-only exclusive today, which is a five-year fixed with a rate of 3.89 per cent. 

This comes with a one per cent product fee, no application fee and a free standard valuation. It is available immediately for selected packager partners.

 

Record month predicted

Jeff Knight, director of marketing at Foundation Home Loans, said it expected July to be a record month as the stamp duty holiday led to an increase in demand. 

He added: “Having spoken to our intermediary partners and funders, we are now able to offer 80 per cent LTV two- and five-year options, plus – following a successful launch of our exclusive packager HMO/large HMO products – we are now able to offer these out to the entire intermediary market. 

“Packager exclusives are still core to our offering though and we have been able to launch a five-year fixed-rate product today just for these partner firms. 

“Activity levels have grown quickly in a short space of time, and we remain fully committed and fully funded in order to offer advisers a wealth of product options to their landlord clients, he added.

 

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