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Foundation Home Loans refresh entire BTL product range

Foundation Home Loans, the intermediary-only specialist lender, has today announced a full refresh of its buy-to-let product range.

The lender has relaunched its entire range of buy-to-let products with immediate effect, which includes a number of new products, cuts to product fees and the extension of all product end dates.

Highlights from the new range include:

  • All two-year fixed-rate products have had their product fees halved to 1%, while Foundation has also reduced the fee on its buy-to-let five-year remortgage special – which comes with a free valuation, no application fee and £250 cashback – down to £2,495, a reduction of £500.
  • Foundation has also cut the fee on its five-year fixed buy-to-let ‘ERC 3’ product down to 1%.
  • The lender has also launched a brand new five-year fix, 80% LTV buy-to-let product within its F1 tier – for borrowers with a near-perfect credit record – priced at 4.24% with a flat product fee of £1,995.

The new range covers all Foundation’s individual and limited company products as well as its HMO range, it’s large loan HMO/multi-unit block range and its products for short-term let properties. There is also a number of products for portfolio landlord borrowers requiring ‘low loans’ with a minimum loan size of £30k, rather than £50k.

End dates for all products have also changed, with two-year deals going up to the end of July 2022, and five-year deals going up to the end of July 2025.

Foundation said the new range responds to an increase in demand for two-year rates plus it allows it to offer an increased range of product options to landlord borrowers, particularly those seeking finance within a limited company structure or wanting to acquire/refinance more complex properties such as HMOs, multi-unit blocks and short-term lets.

The rate cuts follow on from Foundation’s introduction of a number of buy-to-let criteria enhancements earlier this year which include new ICR for basic-rate tax payers which reduced down from 145% of rental income to 125%, plus an increase in maximum loan sizes across its entire product range (including HMOs, multi-unit blocks and short-term lets) for both 65% and 75% LTV.

For more information on Foundation Home Loans, please visit:

Jeff Knight, Director of Marketing at Foundation Home Loans, said: “We are very pleased to be launching a refreshed buy-to-let product range which we believe is a direct response to landlord demand, plus is both highly competitive on price and offers advisers and their landlord borrowers a number of criteria options, whatever the type of property they are seeking finance for. There has undoubtedly been a shift towards adding to portfolios in recent months, particularly by portfolio and professional landlords, and this new range recognises the specific needs of today’s landlord, whether they want to add lower-value properties or they want to access higher-yielding HMOs or multi-unit blocks. We believe this new range caters for all and we would urge advisers to contact Foundation to see how we can support their client’s needs in this area.”

Published: 16 March 2020