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TODAY'S OTHER NEWS

Specialist lender extends borrowing limits across its BTL range

Foundation Home Loans has extended its borrowing limit and reduced rates across its buy-to-let range. This includes products for limited companies and individuals with prior landlord experience financing a house in multiple occupation (HMO).

The lender has increased the maximum loan size of £750,000 at 75% loan-to-value (LTV). The original offer on loan size was £500,000 and the maximum loan of £1 million to 65% LTV remains unchanged.

Five year fixed rates now begin at 3.19%, available for limited companies and individuals. For its HMO products, meanwhile, five year fixed rates start at 3.54%, while for all five year fixes, ICRs are calculated at pay rate.

Foundation Home Loans, a specialist lender available only through intermediaries, aims to offer a choice of competitive specialist mortgage products for clients with more complex needs.

“As a growing business, we want to ensure that we offer competitive products across our distribution channels, be it mortgage clubs, packagers or networks,” Andrew Ferguson, commercial director at Foundation Home Loans, said.

“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.”

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