Foundation moves into 80% LTV BTL space

Foundation Home Loans has launched two new 80% LTV products in its core buy-to-let (BTL) range for both individual borrowers and limited companies.

The products are a 4.29% two-year fixed rate as well as a 4.79% five-year fixed rate, and both come with 2% fees.

The intermediary-only specialist lender revealed it is also launching a new packager-only exclusive today – a five-year fixed rate of 3.89%, which is for the sole use of selected packager partners and is available immediately.

Foundation highlighted that the changes follow last week’s reduction in the lender’s two-year BTL rates within its standard property range – for both individual and limited company borrowers with an almost clean credit history.

“The decision to allow landlords access to the stamp duty holiday has clearly acted as a significant catalyst as many investors consider their position and whether they are able to refinance, or secure the deposit necessary, in order to add to portfolios,” Foundation director of marketing, Jeff Knight, commented.

“Demand has increased and, from a Foundation perspective, July is likely to be a record month for us.
“Activity levels have grown quickly in a short space of time, and we remain fully committed and fully funded in order to offer advisers a wealth of product options to their landlord clients.”

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