"The introduction of this limited edition two-year fix will help provide additional choice within what remains an active marketplace"
- Tom Jacob - FHL
Buy to Let by Foundation has launched a new limited edition two-year fixed rate buy-to-let product to further extend its core buy-to-let proposition.
Available for both purchase and remortgage purposes, the F1 limited edition two-year fixed rate BTL mortgage comes with a headline rate of 5.79% up to 75% LTV and a 1% fee. The product will be available to both limited companies and individuals, with a maximum loan amount of £1.5m. This introduction follows the recent launch of two new HMO products specifically for first-time landlords.
Tom Jacob, Director of Product and Marketing at Foundation Home Loans, said: “We are seeing a sustained appetite for two-year fixed rate products as a variety of landlords are looking to secure competitive rates which also offer them an opportunity to reappraise the market in the near future.
“The introduction of this limited edition two-year fix will help provide additional choice within what remains an active marketplace. In addition, improved stress rates on the rental cover calculation required for our sub-five-year BTL rates mean that this product will now be more accessible to a greater number of landlords based on their rental income.
"A combination which should prove highly beneficial to our intermediary partners and their landlord clients.”
