Foundation Home Loans has released limited-edition products through its ‘Buy to Let’ and ‘Residential’ brands.
Buy to Let by Foundation has launched a five-year fixed holiday let deal within its F2 criteria, which is for clients financing a more specialist property type.
This is available up to 75% loan to value (LTV) and priced at 6.24% with a 2.25% fee.
This comes after the division relaunched its range of Specials with updated rates.
Tom Jacob, director of product and marketing at Foundation Home Loans, said: “Diversification of portfolios has continued to be a key priority for many landlord borrowers, particularly in areas such as holiday lets, so we’re pleased to be launching a new limited-edition product in this space, which should help those seeking to either purchase or remortgage property for this purpose.”
Limited-edition two- and five-year fixed remortgage-only deals have been launched to its Residential by Foundation brand through its F1 criteria, for borrowers who just miss out on the high street.
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This is fee-assisted and available up to 65% LTV, with rates starting at 5.99% with a fixed £595 fee.
Jacob added: “Also, as we know, there is a significant number of mortgages due for maturity not just over the course of the rest of 2024 but also throughout 2025. These new limited-edition remortgage-only products will suit those borrowers who are coming to the end of their current deals and, for whatever reason, just miss out on the mainstream.
“They will benefit from these fee-assisted options for both two- and five-year fixes and provide advisers with further specialist mortgage products to deliver positive outcomes for their clients.”
Hinckley and Rugby BS releases limited company BTL deal
Hinckley and Rugby Building Society has launched a five-year fixed limited company buy-to-let (BTL) product to its range, with top slicing enabled.
This has a rate of 4.99% and is available at 70% LTV. It also has a 5% completion fee.
The top slicing capability will allow landlords to use their personal disposable income to fill any rental income shortfalls and meet affordability.
Laura Sneddon, head of mortgage sales at Hinckley and Rugby Building Society, said: “Top slicing is a flexible tool that helps incorporated landlords overcome the affordability hurdles presented by today’s challenging buy-to-let market.
“By factoring in a landlord’s overall income, we are providing a cushion that supports both the borrower and lender in feeling secure about the mortgage.”
