Foundation reduce rate  - 28/01/2021 14:38

Foundation Homeloans

 

5-year fixed rate reduced by 10bps on specialist buy-to-let from Foundation

On Thursday 28th January, Foundation are reducing one of our best-selling rates, the 5-year 75% LTV buy-to-let fixed rate in the F1 tier for clients who just miss out on mainstream credit.

  • 5 year fixed to 75% LTV with a 2% fee – reducing by 10bps from 3.54% to 3.44%.

This highly-competitive 5-year rate is designed to support landlords looking for a more generous loan for their rent, as Foundation ICR is calculated using the pay rate with a 5 year fix or the notional rate of 5.5% for shorter rates and at only 125% for Limited Companies and basic rate tax payers, and 145% for all other borrowers.  

  • Available for individuals as well as limited companies
  • For clients who just miss out on mainstream credit scores
  • £1m maximum loan size
  • No limit to the background portfolio size, subject to a maximum of £3m
  • Additionally, since 7th January, all Foundation Home Loans products now operate on a rolling end date basis, so this product comes with the benefit of the initial rate for the full 5-year term from completion.

 

FOR INTERMEDIARIES ONLY

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