Foundation Home Loans has enhanced its core buy-to-let (BTL) vary with the launch of a brand new 85% loan-to-value (LTV) product.
The specialist lender’s F1 BTL product gives a five-year mounted price of 6.49%, a minimal mortgage measurement of £100,000, no product payment and is accessible as much as 85% LTV.
It is accessible to each people and restricted corporations. There isn’t any minimal revenue requirement, and brokers will proceed to learn from Foundation’s same-day DIP turnaround instances.
Foundation says the product is designed to enchantment to a variety of debtors, from first-time landlords to seasoned buyers in search of to launch fairness or develop their portfolios.
Foundation director of product and advertising and marketing Tom Jacob says: “Extending our core purchase to let providing into the 85% LTV band represents a big step for the enterprise and an enormous second in BTL lending.”
“It gives landlords and our middleman companions with a compelling, low-deposit path to entry funding in a market the place affordability can typically be a barrier – notably for these seeking to maximise leverage or scale back upfront prices.”
