"Improved stress rates on the rental cover calculation required for our sub five-year buy-to-let rates mean that this product will now be more accessible to a greater number of landlords"
- Tom Jacob, director of product and marketing at FHL
‘Buy to Let by Foundation’, the buy-to-let brand of Foundation Home Loans, has launched a new limited edition two-year fixed rate product to further extend its core buy-to-let proposition.
Available for both purchase and remortgage purposes, the F1 limited edition two-year fixed rate comes with a headline rate of 5.79% up to 75% LTV and a 1% fee. The product will be available to both limited companies and individuals, with a maximum loan amount of £1.5m.
The introduction follows the recent launch of two new HMO products specifically for first-time landlords.
Tom Jacob, director of product and marketing at Foundation Home Loans, said: “We are seeing sustained appetite for two-year fixed rate products as a variety of landlords are looking to secure competitive rates which also offer them an opportunity to reappraise the market in the near future.
“The introduction of this limited edition two-year fix will help provide additional choice within what remains an active marketplace. In addition, improved stress rates on the rental cover calculation required for our sub five-year buy-to-let rates mean that this product will now be more accessible to a greater number of landlords based on their rental income. A combination which should prove highly beneficial to our intermediary partners and their landlord clients.”
