Foundation Home Loans has recently announced the launch of its lowest ever fixed rates with its new ‘Summer Special’ buy-to-let (B2L) product, specifically created for individuals, portfolio landlords and limited companies.
The specialist lender has reported that the product will be limited edition and offers a two-year fixed rate starting at 2.49%, with an interest cover ratio of 125% x 5.5% for limited companies and 145% for individuals. Application for the product requires meeting the lenders standard plus criteria, following the same requirements as Foundation Home Loans other B2L products.
Foundation Home Loans commercial director Andrew Ferguson said: “Being able to regularly offer competitive products cements our commitment to our intermediary partners. Our new summer special product carries our lowest ever fixed rates starting at just 2.49%. Whilst the market is geared towards 5 Year Fixed Rates, we believe that these offer a competitive alternative for landlord clients who prefer a shorter term option.”
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