In an exciting development for landlords across Yorkshire, Foundation Home Loans has announced refreshed Buy to Let Specials, effective from November 12,
2024. These new offerings are designed to cater to a variety of borrowers with competitive interest rates that promise to enhance affordability for landlords managing their property portfolios. The revised product range is segmented into two main tiers: the F1 tier, which is geared towards borrowers with nearly impeccable credit histories, and the F2 tier, intended for clients who might be dealing with specialist properties or specific credit issues.
Key features of the F1 products include enticing two-year fixed-rate specials commencing at
4.74%, attaching a 4% fee and available on 65% and 75% loan-to-value (LTV) ratios. For those portfolio landlords looking at longer commitments, five-year fixed rates are available starting from
5.19% with a 6% fee, again on both 65% and 75% LTV ratios, while fee-assisted options are introduced starting at
5.39% with a 5% fee. The alternatives in the F2 tier present two and five-year fixed rates initiating from
5.29% with a 3% fee, particularly targeting standard Houses in Multiple Occupation (HMO) and Multi-Unit Freehold Blocks (MUFB) borrowers.
Tom Jacob, Director of Product and Marketing at Foundation Home Loans, expressed optimism regarding the diverse range tailored for different landlord profiles, including individual and portfolio landlords, as well as those managing HMOs and MUFBs. With a nod to the positive financial landscape following the recent national Budget, he anticipates a surge in landlord activity. These offerings aim to facilitate remortgaging and property purchases, ensuring that the provided rates are among the most competitive currently available in the market. Advisors are encouraged to liaise with Foundation’s sales team to optimally support their clients with these new financial solutions.
Key Takeaways
- Foundation Home Loans has introduced competitive buy-to-let mortgage rates for all types of landlords.
- The F1 tier offers especially favorable options for borrowers with clean credit histories, while the F2 tier caters to those with specialized property needs.
- This update aims to encourage increased landlord activity in a favorable financial climate post-national Budget.
Overview of Buy to Let Specials
Foundation Home Loans has made significant updates to its Buy to Let Specials, launching competitive interest rates and a varied spectrum of options effective from November 12,
2024. These revamped offerings are categorized into two distinct tiers: the F1 tier, which caters to borrowers with a nearly pristine credit profile, and the F2 tier, tailored for clients who are managing specialist properties or dealing with certain credit challenges.
The F1 tier features two-year fixed-rate specials, commencing at an interest rate of
4.74% accompanied by a 4% fee for both 65% and 75% loan-to-value (LTV) ratios. For portfolio landlords looking for longer-term solutions, the five-year fixed rates start at
5.19% with a 6% fee, again at 65% and 75% LTV, while those opting for fee-assisted alternatives can find rates starting at
5.39% with a 5% fee. In contrast, the F2 tier provides both two and five-year fixed rates beginning at
5.29% with a lower 3% fee, specifically designed for standard Houses 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 expanded range which is designed to accommodate various landlord profiles, including individual landlords, portfolio landlords, and those operating HMOs and MUFBs. Jacob noted optimism about the potential for increased landlord activity as the market adjusts post-national Budget, highlighting that the rates offered are among the most attractive currently available. He encouraged financial advisors to liaise with Foundation’s sales team to thoroughly address the needs of their clients using the updated products.
Overall, the refreshed offerings from Foundation Home Loans signify a substantial development in financing solutions for landlords, facilitating both remortgaging and property purchases.
Tailored Options for Different Landlord Profiles
In addition to the refreshed products, Foundation Home Loans is also keen on supporting landlords through educational initiatives. The company is launching a series of webinars aimed at informing landlords and financial advisors about the specifics of the new offerings and best practices in the evolving property market. These sessions will cover in-depth topics such as understanding risk profiles, optimizing portfolio management, and the implications of recent regulatory changes. This proactive approach not only assists landlords in making informed decisions but also strengthens the relationship between Foundation Home Loans and its clientele as they navigate the complexities of the buy-to-let sector amidst changing economic landscapes.
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