HTB adds flex tracker; Buy to Let by Foundation launches HMO deals – round-up

The Flex product is limited edition and available on a two-year discounted rate. It is available across HTB’s buy-to-let (BTL) and semi-commercial ranges. 

Borrowers can sell their property the loan is against or lock into a fixed rate deal within the two-year period without any early repayment charges (ERCs). 

HTB said the product would be suitable for investors who wanted to keep in line with the local market but would probably not be ideal for borrowers who wanted to refinance to another lender within the two-year term, as ERCs would apply. 

The Flex product is available up to 75 per cent loan to value (LTV), with BTL rates starting from 7.8 per cent for a fee plus option, 8.8 per cent for ERC plus, and 9.3 per cent for ERC Lite. 

The respective semi-commercial rates are at eight per cent, nine per cent and nine-and-a-half per cent. 

Chris Daly (pictured), managing director of specialist mortgages at HTB, said: “We’re committed to innovation, and our new flexible mortgage tracker is a bold step forward.

“Driven by broker feedback and a desire to try something new that will genuinely add value for brokers, we’ve reimagined a conventional tracker to be more flexible. This product will appeal to developers who are happy to tenant new developments, before selling down over time as well as giving existing investors the ability to track, fix or even sell during the initial term depending on their needs.”

He added: “The short-term flexibility it offers allows borrowers to adapt to changing personal and market circumstances, recognising that we can’t always accurately predict the future.

“By empowering investors and developers with better strategic decision-making tools, this tracker enables them to navigate uncertainty effectively.” 

Buy to Let by Foundation launches two HMO fee-assisted products 

Buy to Let by Foundation, the BTL brand of Foundation Home Loans, has added two houses in multiple occupation (HMO) fee-assisted products to its range. 

The products have a 1.25 per cent fee, come with a free valuation and no application fee. 

They are available up to 75 per cent LTV and the two-year fix is priced at 6.69 per cent, while the five-year fix has a rate of 6.39 per cent. 

The lender also launched products within its F1 criteria, which is for borrowers with an almost clean credit history. It has added standard buy-to-let products within this range, with two-year fixed rates starting at 6.39 per cent and five-year fixes at 5.94 per cent. Both have a one-and-a-half per cent fee. 

There are also green five-year fixes available for portfolio and non-portfolio landlords improving the energy efficiency of their properties. These have a rate of 5.99 per cent for F1 borrowers and 6.14 per cent for F2 borrowers. 

Tom Jacob, director of product and marketing at Foundation Home Loans, said: “We’re very pleased to be able to launch these brand new, fee-assisted HMO products within Buy to Let by Foundation, particularly as they also come with no application fee and one free standard valuation. As advisers with HMO landlord clients will know, valuations for these types of properties can be expensive so this should be a considerable saving for clients from the outset. 

“We continue to offer a strong range of both standard BTL products, while our specials range for landlords remains at the same pricing as when we launched them in January, offering highly competitive rates for those clients seeking to either refinance their properties or purchase in order to add to their portfolios.”

“At Foundation, we are seeing strong ongoing landlord appetite and activity, and we’re here to work closely with advisers and their clients to ensure they get the right finance at competitive rates,” he added.