Foundation Updates

18 May 2021

New fee assisted BTL mortgages and fixed fee HMO/MUB products

We've launched a number of new products, including fee assisted options for purchases as well as remortgages, two fixed fee HMO and multi unit blocks (MUB) deals, in addition to rate reductions on our 80% LTV products.

The fee assisted options – which all come with a fixed £1,495 fee, one free valuation, no application fee and £250 cashback are available to both individual and limited company landlord borrowers up to 75% LTV on a purchase or remortgage basis. Rates include: 3.39% fix for two years and 3.59% for five-years to 65% LTV; and 3.59% fix for two years and 3.74% fix for five-years to 75% LTV.

We have also launched a new standard HMO (up to six occupants) and large HMO/MUB five-year fixes at 75% LTV available to limited company and individual landlords, which start at 3.79% and come with a fixed £1,495 fee.

On top of this, we've reduced rates on our two and five year, 80% LTV, individual and limited company buy to let products to 3.79% from 3.99 and 4.29% from 4.49% respectively.

ICR is calculated at 125% for limited company mortgages at pay rate for the 5 year fixed product, and at the notional rate of 5.5% on a 2 year fix.

George Gee, our Commercial Director, said:

“Our fee assisted options have proved very popular amongst advisers and their landlord clients, as they allow borrowers to keep their upfront costs low and access highly competitive pricing, whether for an individual or limited company, and focused on standard properties or HMOs.

“In particular, we believe these new fee-assisted products will appeal to those landlords seeking to purchase multiple properties, as we have widened their availability to both purchasers and those remortgaging. These new HMO/MUB fee-assisted deals should also appeal to those landlords who want larger value, higher yielding properties without paying a percentage-fee.

“Overall, it’s clear there is a very strong ongoing demand from landlord borrowers for a specialist approach to underwriting  and our commitment to keeping landlord costs low will continue as we seek to ensure Foundation’s broad buy to let range serves intermediaries  advising in this space.”

If any of these products sound of interest, why not get in touch?

Speak to your BDM

FOR INTERMEDIARIES ONLY

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