We are pleased to announce that we have today launched a new ‘Festive Fixed Rate special’ for landlord borrowers seeking larger buy to let loans with a flat product fee.
The five-year fixed-rate is available for mortgage loans between £250k and £1m – at a rate of 3.04% fixed for 5 years for a fixed product fee of £1,995.
At Foundation, the ICR is calculated at the pay-rate for five-year fixes, so 3.04% for this five-year fix, then stress tested at 125% for limited companies and basic-rate taxpayers and 145% for all other borrower types.
George Gee, Commercial Director at Foundation Home Loans, said:
“’Tis the season to be jolly and at Foundation we want to sprinkle a little joy throughout December with the launch of this new limited edition ‘Fabulous Festive Fixed Rate Special’. This fits within our F1 range for those landlords with near-mainstream credit who are looking for larger loan sizes between £250k and £1m.
“As this product, much like Father Christmas, won’t be around forever, we would urge advisers to contact us if they have suitable clients.”