Foundation Home Loans introduces limited edition BTL deals

The no-fee two-year fixed rate product has a 3.24 per cent rate, while the five-year fixed rate is pegged at 3.34 per cent.

Both are available up to 75 per cent loan to value (LTV), and it has no product or application fees and has a free standard valuation.

It is aimed at landlords looking to purchase or refinance.

The limited edition flat-fee two-year fixed product is priced at 2.79 per cent, and the five-year has a rate of 2.99 per cent. They come with a fee of £1,995 and are available up to £500,000.

Interest cover ratio is calculated at pay rate for five-year fixed rate products and at a notional rate of 5.5 per cent for two-year products.

It is stress tested at 125 per cent for limited companies and basic-rate taxpayers and 145 per cent for other landlord types.

George Gee (pictured), Foundation Home Loans commercial director, said: “These new limited edition BTL products are highly competitive on both rate and fees, providing an attractive overall total cost to those landlords either seeking to add to portfolios or to refinance.

“Given that we have no limit to the size of the background portfolio of the client – subject to £5m borrowing with Foundation – we believe these products offer intermediaries a good value option for their portfolio and non-portfolio landlords.”