0:01 AM, 9th June 2023, About 6 months ago
Foundation Home Loans is expanding its core buy-to-let offerings with the introduction of three Limited Edition products and Special Editions to cater to various needs.
As an intermediary-only specialist lender, Foundation is unveiling a series of Special Editions within its buy-to-let range with enhanced benefits and features.
These include reduced product fees for F1 five-year fixes, dropping from 1.5% to 1.25%.
Also, there will be new F1 two-year fixed rates starting at 5.99%, complete with one complimentary standard valuation.
The F1 tier in Foundation’s BTL offering will also see the introduction of a 6.39% five-year fixed-rate option.
In the F2 tier, investors can look forward to a 6.59% large HMO five-year fixed rate and a 6.79% short term let five-year fix.
All three Limited Edition products have a £2,995 fee, free valuation and no application fee.
Foundation also says that its current service levels offer one-day turnaround times on average for DIP referral, application and underwriter review for all cases.
The products come on the heels of Foundation’s comprehensive refresh of all products within its core buy-to-let ranges in late May.
Foundation’s director of product and marketing, Tom Jacob, said: “At the end of last month, we were able to relaunch our core buy-to-let, and continuously looking at our range, reviewing where we believe there is strong demand.
“We have now been able to launch both new limited editions and special products with a number of new features.
“The new limited edition F1 product within our core buy-to-let range should have a wide appeal across a number of landlord borrowers, while our more niche HMO and short-term let five-year fixes are targeting a growing demand within the sector, particularly as landlords seek increasing yields.”
He added: “Our new special products offer competitive options, particularly for owner-occupied customers looking to remortgage, given the lower fees, and the fact they come with both a free valuation and no application fees.
“Overall, this broadens the product choice we are offering and targets specific landlord borrowers, which we believe will allow advisers to offer a wider range of solutions to their clients from Foundation.”