Foundation Home Loans trims rates and adds 65 per cent LTV green remortgage

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  • 08/06/2021
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Foundation Home Loans trims rates and adds 65 per cent LTV green remortgage
Foundation Home Loans has cut a range of rates across buy-to-let five-year fixed products by 0.1 per cent and introduced a 65 per cent loan-to-value green reward remortgage.

 

The lender has cut the rate for its five-year fix 75 per cent and 65 per cent loan to value (LTV) buy-to-let mortgages by 10 basis points to 3.24 per cent and 3.14 per cent respectively.

Both are subject to a 2 per cent fee. The 65 per cent LTV product comes with a large loan option at 2.99 per cent with a 2.25 per cent fee and maximum loan of £2m.

Its ERC-3 product has also seen a 0.1 per cent reduction to 3.59 per cent, with early repayment charges applicable for the first three years.

The rate for the lender’s early mortgage 75 per cent LTV five-year fixed mortgage now stands at 3.39 per cent and is subject to a 2 per cent fee.

The five-year fixes are available for individuals and company borrowers, with the interest cover ratio set at 125 per cent for limited companies and basic rate taxpayers, and 145 per cent for others.

Foundation Home Loans has also launched a five-year fixed rate Green Reward remortgage at 65 per cent LTV, which has a rate of 3.49 per cent and maximum loan size of £1.5m.

The Green Reward remortgage comes with a 75 per cent LTV option, whose rate has ben cut form 3.65 per cent to 3.59 per cent and has a maximum loan size of £1m.

These loans are available to landlord borrowers on private rental properties with an Energy Performance Certificate of C or above, within the last 12 months. Both the above products come with £750 cashback on completion

Foundation Home Loans commercial director George Gee (pictured) said the rate cuts on its five-year fixes were designed to support advisers and landlord clients, especially if they were looking for a bigger loan, and made its products even more competitive.

“As always, our aim here is to support those landlord borrowers who just miss out on mainstream credit scores and to support our adviser partners as they seek to grow their buy-to-let advice businesses,” he said.

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