BTL lenders widen specialist mortgage choice

Landlords refinancing specialist buy to let property are being offered fresh fixed-rate options as lenders adjust ranges for HMOs, multi-unit blocks, holiday lets and expat borrowers.

Foundation, the intermediary-only specialist lender, has expanded its BTL range with new Green, HMO, MUFB, holiday let and expat products, saying landlord cases are becoming more varied across both property type and borrower profile.

The lender has launched a Green standard HMO product at 5.59%, with a 4% fee, £500 cashback and no application fee for properties with an EPC rating of A to C.

New fixed BTL products

Two new five-year fixed-rate products have also been introduced for multi-unit freehold blocks and holiday lets.

Both carry a flat fee of £4,995, with the MUFB product priced at 6.24% and the Holiday Let option at 6.34%.

Foundation said the two products are aimed at landlords financing more complex property types, particularly where larger loan sizes are involved.

Its expat range has also been changed, with a new F2 two-year fixed-rate product priced at 6.34% and carrying a 1.5% fee.

HMO buy to let deals

Foundation’s director of sales, Grant Hendry, said: “In the current market, brokers need a lender that can offer both consistency and breadth of product, particularly as landlord cases become more varied and often more complex.

“These latest additions are about making sure brokers have the right options available, whether they are placing standard buy to let business or working across more specialist areas such as HMOs, MUFBs or holiday lets.”

Moneyfacts highlights TSB BTL

Meanwhile, Moneyfactscompare.co.uk has named a TSB five-year fixed rate buy to let mortgage as its BTL Pick of the Week, following selected rate cuts by the lender.

The TSB deal, described by Moneyfacts as a five-year fix at 75% loan-to-value, has been reduced by 0.15% and is now priced at 4.74% until 31 July 2031.

The product has a maximum loan-to-value of 60%.

The mortgage carries a £1,995 product fee, includes a free valuation, allows overpayments and is available in Great Britain to second-time buyers.

Landlord fixed rate mortgage

Commenting on the deal, Caitlyn Eastell, a personal finance analyst at platform, said: “The latest update from TSB sees it reduce selected fixed rate mortgages for landlords.

“One deal to see a 0.15% cut is the five-year deal at 75% loan-to-value, it is now priced at 4.74% until 31 July 2031.

“Despite its large £1,995 fee, the deal sits at the top of its sector, and its free valuation incentive may offset some of the cost which may add to its appeal.”

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