NEW PORTFOLIO LANDLORD ‘NO FEE’ 2-YEAR FIX LIMITED EDITION - FOUNDATION HOME LOANS

On Thursday 22nd July, Foundation Home Loans is adding two new ‘No Fee’ 2-year fixed rate products to their buy to let range exclusively for portfolio landlords (those who have 4+ properties in the background).

‘No Fee’ 2-year fixed rates - versions for F1 standard properties and F2 standard HMO (up to 6 occupants)

• No Product fee, one free standard valuation and no application fee
• Up to 75% LTV
• Max loan £750k, min £50k
• For both purchase and remortgage
• For individuals and limited companies
• No limit to portfolio size, subject to max borrowing of £5m with Foundation

TFC have access to New reduced document requirements

Exclusively through select packagers (TFC) - Landlords can now take advantage of Foundation’s new streamlined document requirements:

• Proof of income is no longer required if the rental income for a portfolio covers the total mortgage payments at 100% ICR
• Rental cover required for background portfolio now only 100% (was 125%)
• The total LTV of the portfolio can now be 100% (was previously 80% LTV)
• Because cases are assessed on their individual merits, proof of mortgage payments may not be required in all instances
• Easier uploading of portfolios over 10 properties

Landlord pre-underwriting facility

Landlord borrowers benefit from a facility to add more properties easily to their portfolio with Foundation Home Loans within six months.  

PLEASE CONTACT TFC FOR DETAILS

‘Fee-Free’ and ‘No Fee’ in this case means no product fee, no application fee and one free valuation – however please ensure your client is aware that there are always other possible fees that will be incurred as part of a property purchase/remortgage.

Find these and all of our other products and lenders here on 1APP from one DIP.

Residential, BTL, Second Charges, Bridging and Commercial.

Referral and packaged service available from TFC