New portfolio no-fee 5 year fix  - 04/08/2021 09:55

NEW PORTFOLIO LANDORD ‘NO-FEE’ 5-YEAR FIX LIMITED EDITION - FOUNDATION HOME LOANS

 

Foundation Home Loans have added a new 5-year fixed rate with no product fee, no application fee, and one free standard valuation, exclusively for portfolio landlords (those who have 4+ properties in the background).

This product complements their existing 2-year and HMO No Fee Limited Edition products, all of which benefit from:

 

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

 

George Gee, Commercial Director at Foundation Home Loans comments: “For portfolio landlords, being able to access highly competitive fixed rates with little to no up-front costs for both remortgages and purchases creates a great deal of opportunity, and we want to support intermediaries in offering that to their clients at this time.”

 

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.  

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