"The launch of Property Plus and HMO Plus is designed to support those who may have faced restrictions under traditional valuation and underwriting criteria in the past."
- Tom Jacob, director of product and proposition at Foundation Home Loans
Foundation Home Loans has announced the launch of a Property Plus and HMO Plus product range.
Supported by a tailored underwriting process, Foundation can now consider HMOs and a broader range of commercial premises, including flats above shops, locations near business units, investor-only areas, and those affected by postcode concentration rules.
Foundation is offering two and five-year fixed rate Property Plus products, starting from 6.99% up to 75% LTV with a 2% product fee.
Two and five-year fixed rate HMO Plus products start from 7.09% up to 75% LTV with a 2% product fee
Alongside these additions, Foundation has also cut rates by up to 0.25% across key areas of its buy-to-let range.
Multiple properties on one title rates have reduced by 0.10%, now starting from 6.89% with a 2.50% product fee.
Semi-commercial property rates are down by up to 0.15%, now starting from 7.34% with a 3% product fee, while rates on other selected products are down by up to 0.25%.
Tom Jacob, director of product and proposition at Foundation Home Loans, said: “Expanding financing options for landlords with complex property types remains a key priority for Foundation Home Loans. The launch of Property Plus and HMO Plus is designed to support those who may have faced restrictions under traditional valuation and underwriting criteria in the past.
“These latest additions and enhancements reaffirm our commitment to supporting our intermediary partners with specialist products tailored to meet real-world buy-to-let lending needs, whether for first-time investors or experienced portfolio landlords, while ensuring they have the tools and flexibility to secure the right solutions for their clients.”
