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 charge of 6.49%, a minimal mortgage dimension of £100,000, no product payment and is on the market as much as 85% LTV.
It is on the market to each people and restricted firms. There is not any minimal earnings requirement, and brokers will proceed to learn from Foundation’s same-day DIP turnaround instances.
Foundation says the product is designed to attraction to a variety of debtors, from first-time landlords to seasoned buyers searching for to launch fairness or increase 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 major step for the enterprise and an enormous second in BTL lending.”
“It supplies landlords and our middleman companions with a compelling, low-deposit path to entry funding in a market the place affordability can usually be a barrier – significantly for these seeking to maximise leverage or cut back upfront prices.”
