Foundation Home Loans launches 80% LTV buy-to-let loans
Jul 30, 2020 ~3 minute read

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Foundation Home Loans, the intermediary-only specialist lender, has today launched two new 80% LTV products in its core buy-to-let range for both individual borrowers and limited companies.

The products are a 4.29% two-year fixed rate and a 4.79% five-year fixed rate; both come with 2% fees.

Also, from today, products which were launched last month as exclusives for Foundation’s top packager partners are now available to the whole of the intermediary market.

These products are two-year variable offerings, priced at 3.34% up to 65% LTV or 3.69% up to 75% LTV for standard HMOs. For Large HMO/MUB - HMOs to a maximum of eight bedrooms; all MUBS to a maximum of 10 units - the rate is 3.44% up to 65% LTV or 3.79% up to 75% LTV.

Foundation is launching a new packager-only exclusive today – a five-year fixed rate of 3.89%, which comes with a 1% product fee, no application fee and a free standard valuation. This is for the exclusive and sole use of selected packager partners and is available immediately.

The new 80% LTV products and the launch of the new packager exclusive follow a reduction last week in the lender’s two-year buy-to-let rates within Foundation’s standard property range for both individual and limited company borrowers with an almost clean credit history. Two-year products now include:

  • An F1 3.24% fixed-rate – reduced from 3.39% - available at 75% LTV with a 2% fee.
  • A 3.49% fixed-rate – reduced from 3.69% - available at 75% LTV with a 2% fee in the F2 range.
  • A new F1 3.44% two-year fixed-rate product available up to 65% LTV with a flat £1,995 fee.
  • A new F1 3.64% two-year fixed-rate product available up to 75% LTV with a flat £1,995 fee.

Jeff Knight, pictured, Director of Marketing at Foundation Home Loans, said:

“The decision to allow landlords access to the stamp duty holiday has clearly acted as a significant catalyst as many investors consider their position and whether they are able to refinance, or secure the deposit necessary, in order to add to portfolios.

“Demand has increased and, from a Foundation perspective, July is likely to be a record month for us. Having spoken to our intermediary partners and funders, we are now able to offer 80% LTV two- and five-year options, plus - following a successful launch of our exclusive packager HMO/Large HMO products - we are now able to offer these out to the entire intermediary market.

“Packager exclusives are still core to our offering though and we have been able to launch a five-year fixed-rate product today just for these partner firms.

“Activity levels have grown quickly in a short space of time, and we remain fully committed and fully funded in order to offer advisers a wealth of product options to their landlord clients.”

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