Foundation Home Loans extends borrowing limits across its buy-to-let range
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 to £750,000 at 75% LTV; the original offer on loan size was £500,000 and the maximum loan of £1m to 65% LTV is unchanged.
The lender’s 5-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.
Andrew Ferguson, commercial director at Foundation Home Loans, 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.”