According to FHL, it will reduce rates by up to 0.8% (Light Adverse 5 year fixed now at 4.39%) and arrangement fees will be simplified to a set 2% of the loan amount across the range
Paul Brett, Business Development Director at FHL, had this to say: “Our partners are telling us that they expect a positive core of BTL enquiries running into the end of the year, even though there has been a dip in activity in the wake of the loss of stamp duty. It is important that at FHL we are always looking at ways to provide the most cost effective funding to ensure that there is encouragement for landlords to continue investing.
Our move on cutting rates is matched by the further simplification to criteria. In this case, arrangement fees are now simply set at 2%, regardless of loan size. Along with the successful deployment of the first stage development of our online portal for enquiry and application, which has received plenty of positive feedback, FHL’s BTL proposition offers our introducers and their landlord clients significant benefits.
We look forward to meeting advisers wanting to talk about BTL on our new stand at FSE London on Wednesday.”
