Foundation Updates

07 December 2021

New ‘Festive Five-Year Fixed Rate’ for landlords

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

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.

It is available for both purchase and remortgage, and available for buy-to-let, limited company buy-to-let customers, individuals and portfolio landlords.

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.”

Buy to Let rate guides 

 

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