Foundation Home Loans has increased its borrowing limits and reduced rates across its buy-to-let range, including products for limited companies and individuals with prior landlord experience financing a HMO.
Across its product range the lender has increased the maximum loan size of £750k at 75% LTV; the original offer on loan size was £500k and the maximum loan of £1m to 65% LTV is unchanged.
Five year fixed rates now start at 3.19% , which are available for limited companies and individuals. For its HMO products, 5 Year Fixed Rates start at 3.54%. For all 5 year fixes, ICRs are calculated at pay rate.
Foundation Home Loans commercial director Andrew Ferguson said: “As a growing business, we want to ensure that we offer competitive products across our distribution channels, be it mortgage clubs, packagers or networks. By increasing our maximum loan size at the upper LTV band of 75%, we will now be able to offer solutions to more landlord clients.”
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