Foundation Home Loans has introduced a range of new buy-to-let (BTL) products at 85% LTV for the first time.
The specialist lender described the move as a “significant enhancement” of its BTL proposition.
Foundation will now offer new 85% LTV two and five-year fixed rate options within its F1 product range. The two-year fixed rate is available at 4.79% while the five-year offering is priced at 4.99%, and there are no product fees with either.
They are available to limited companies, individuals and portfolio landlords as standard, and the lender also confirmed there is a minimum property value of £125,000 in order to be eligible. In line with the rest of the range, rental income on the five-year fix is calculated at the pay-rate.
Foundation commercial director, George Gee, said: “This expansion comes at a time when we are seeing strong demand for increased LTVs and the fact we are able to offer these products with no product fee, to a wide range of landlords, we hope will go down well with advisers.
“Landlords continue to look at the current property market, with strong tenant demand and yield, as an opportunity to grow their portfolios and, as a specialist in this sector, we believe our range can help them fulfil their ambitions via their trusted advisers.”
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