Foundation Homeloans

Opens for new business today 18th May 2020

Please note the following key points in the new product ranges:

Buy to Let

• 2 & 5 Year Fixed Rates to 75% Loan to Value
• NEW 2 Year Discounted Rates with no ERCs
• Rates Starting from 2.94%
• 145% Interest Coverage for all applications (individual AND limited company)
• Changed LTV tiers to a max 75% Loan to Value (70% HMOs)
• All products have a 2% fee
• Max loan size now £1.5m

 Residential

• 2 Year Fixed Rates NEW
• 2 Year Discounted Rates with no ERCs
• Rates Starting at 2.79%
• Max 75% Loan to Value
• All products have a £995 fee
• Max loan size now £1.5m

In addition, please note that they have changed the underlying rate for the new range from LIBOR to Bank of England Base Rate (BBR).

New reversion rates are therefore expressed as ‘4.99% plus BBR (currently 0.10%)’.

Note that all variable discounts are linked to the current reversion rate of 5.09%