Foundation Home Loans has rolled out its new Buy to Let Specials, effective November 12, 2024, featuring competitive rates and a variety of product options tailored to meet the evolving needs of landlords. This revised range presents two tiers: the F1 tier, designed for borrowers with nearly pristine credit histories, and the F2 tier, which caters to clients with unique circumstances such as specialist properties or credit issues.
The F1 tier showcases attractive fixed-rate specials, including two-year fixed rates starting as low as
4.74% with a 4% fee for loans at 65% and 75% loan-to-value (LTV) ratios. For portfolio landlords, five-year fixed rates begin at
5.19% accompanied by a 6% fee, available at both LTV levels, while an alternative fee-assisted option for a five-year fixed rate starts at
5.39% with a 5% fee. Meanwhile, the F2 tier features two and five-year fixed rates commencing from
5.29%, with a 3% fee, specifically targeting standard House in Multiple Occupation (HMO) and Multi-Unit Freehold Blocks (MUFB) borrowers.
Tom Jacob, Director of Product and Marketing at Foundation Home Loans, expressed enthusiasm about the diverse array of options now available, which are tailored for various landlord profiles including those with portfolios or those managing HMOs and MUFBs. He indicated that the recent national Budget outcomes could inspire renewed confidence among landlord borrowers, suggesting an increased activity from advisors as they help navigate these new products.
These updates highlight Foundation Home Loans’ commitment to providing flexible and competitive financing alternatives designed to suit the broad spectrum of landlords, inviting advisors to collaborate closely with the Foundation sales team to align offerings with client requirements.
Key Takeaways
- Foundation Home Loans has introduced competitive Buy to Let rates effective November 12,
2024. - The product range includes two tiers catering to different borrower profiles, with the F1 tier for near-clean credit and the F2 tier for specialist situations.
- Landlords can benefit from appealing fixed-rate options, encouraging collaboration with advisors for optimal financing choices.
Overview of Foundation Home Loans’ Buy to Let Specials
Foundation Home Loans has launched an attractive range of Buy to Let Specials, effective from November 12, 2024, aimed at addressing the diverse needs of landlords across Yorkshire and beyond. The new offerings comprise two distinct tiers designed to cater to varying borrower scenarios: the F1 tier targets individuals with near-clean credit histories, while the F2 tier is tailored for those managing specialist properties or facing particular credit challenges (Mortgage Strategy, 2024).
In the F1 tier, notable highlights include competitive two-year fixed-rate specials starting at
4.74% with a 4% fee, accessible at 65% and 75% loan-to-value (LTV) ratios. For portfolio landlords, five-year fixed rates commence at
5.19% with a 6% fee, also available at both LTV levels. Furthermore, fee-assisted five-year fixed rates begin at
5.39% with a reduced 5% fee, proving attractive in a challenging market. In contrast, the F2 tier offers both two and five-year fixed rates starting at
5.29% with a mere 3% fee, catering specifically to standard House in Multiple Occupation (HMO) and Multi-Unit Freehold Block (MUFB) borrowers (Property Reporter, 2024).
Tom Jacob, Foundation Home Loans’ director of product and marketing, emphasized the diversity of these options, enabling advisors to assist various landlord profiles, including those managing portfolios or engaged in HMO and MUFB initiatives. He remarked on the growing confidence amongst landlords, fuelled by a stabilising national Budget, which is expected to generate increased advisor engagement as clients explore these innovative products. Jacob affirmed that these rates represent some of the most competitive offerings currently available from Foundation Home Loans, positioning them favourably against other market alternatives. Ultimately, these updated products aim to enhance the financing prospects for landlords, while encouraging advisors to collaborate closely with Foundation’s sales team to match clients with suitable products that meet their specific requirements (FT Adviser, 2024).
This latest initiative illustrates Foundation Home Loans’ commitment to support landlords with efficient financing solutions that adapt to evolving market conditions, making it an opportune moment for potential investors in the property market.
Details of F1 and F2 Tiers: Competitive Rates and Unique Features
The introduction of the updated Buy to Let Specials by Foundation Home Loans not only enhances the financing landscape for landlords but also reflects the broader conditions within the Yorkshire property market. With the F1 tier particularly geared toward borrowers with sound credit histories, it promises to facilitate growth for conventional landlords. Conversely, the F2 tier responds adeptly to the unique challenges faced by those managing more complex property types, including HMOs and MUFBs, thereby reinforcing Foundation Home Loans’ adaptive strategy in an increasingly competitive sector. Jacob’s insights capably underscore the importance of advisors in helping clients navigate these bespoke offerings, promoting a collaborative approach that aligns well with the current optimistic sentiment in the market as outlined in the recent national Budget, which has provided a solid backdrop for growth (Mortgage Strategy, 2024; Property Reporter, 2024; FT Adviser, 2024). This emphasis on support and flexibility could prove vital for landlords looking to expand their portfolios or optimise their existing operations in today’s dynamic environment.
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