Foundation Home Loans has announced it is expanding its green buy-to-let (BTL) product range to specialist property types, including short-term lets and standard HMOs up to six occupants.
The specialist lender stated that advisers will now be able to access its ABC+ Green mortgage for landlords looking to purchase or remortgage such specialist properties that have an Energy Performance Certificate (EPC) rating of A to C.
Foundation’s ABC+ Green HMO product has rates starting from 3.44% for 75% LTV on a five-year fixed rate, with a 0.75% fee, while the lender’s short-term let product has rates starting from 3.94% for 75% LTV, also on a five-year fixed rate, also with a 0.75% fee. Both allow a maximum loan size of £1m.
Rates are tiered depending on the EPC rating of the property, with those at an A level securing the most competitive rate. Foundation also confirmed that the products will allow early remortgaging for landlords who purchase a property, upgrade it using bridging finance, and are then seeking to move to a standard BTL deal.
“Following our initial launch of our green reward mortgage range last year, we are keen to ensure we remain at the cutting edge of product design and activity in this space,” commented Foundation’s commercial managing director, George Gee.
“To that end, and to show our further commitment to support the ‘green agenda’, we are launching these ABC+ products for landlords seeking to purchase or remortgage specialist product types such as short-term lets and standard HMOs. These products mirror our Green ABC+ range for standard BTL properties, providing tiered rates and cashback depending on the EPC level.”
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