New EICR to cover any changes made by outgoing tenant?10:00 AM, 4th May 2021
About 2 weeks ago 96
New lender, Foundation Home Loans, has launched into the Buy to Let market specialising in criteria for investing in the name of a Limited Company post clause 24.
This niche will in particular allow new investors to start by avoiding the mortgage interest relief penalties of borrowing in a personal capacity without a mark up in rates over standard products.
I met with their Director of Business Development last week and Foundation have sprung from the old Gmac team who were massive pre credit crisis. The idea is to launch with niche criteria USPs to assist Landlords in the new evolving Buy to Let market.
Standard products at 75% Loan to Value start at 3.69% for a 2 year fixed, 3.89% for a 3 year fixed and 4.39% for a 5 year fixed. All available in the name of a Limited Company SPV for the purpose of property rental.
Foundation will also consider customers with light adverse credit eg a satisfied default and one missed mortgage payment at a slightly higher rate.
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