In a significant move for the buy-to-let market, Foundation Home Loans has launched a fresh array of Buy to Let Specials as of November 12,
2024. This updated lineup features competitive rates specifically designed to cater to the diverse needs of landlords across the UK. With two distinct tiers—F1 and F2—the offerings not only provide attractive rates but also address various credit situations and property types. This strategic enhancement comes at a time when many landlords are seeking flexible financial products in an ever-evolving real estate market.
The F1 tier targets individuals with a near-clean credit history, offering competitive fixed-rate options, while the F2 tier caters to those managing specialist properties or facing credit challenges, thus ensuring that all potential borrowers have access to valuable financing solutions. The recent changes underscore Foundation Home Loans’ commitment to supporting landlords in navigating the complexities of property investment.
Key Takeaways
- Foundation Home Loans introduces new competitive Buy to Let Specials effective November 12,
2024. - Two distinct tiers, F1 and F2, cater to different borrower profiles and credit situations.
- Advisors are encouraged to collaborate with Foundation’s sales team to offer tailored solutions for clients.
Understanding the New Buy to Let Specials
As of November 12, 2024, Foundation Home Loans has launched an updated range of Buy to Let Specials, featuring competitive interest rates segmented into two distinctive tiers. The F1 tier caters to those with nearly pristine credit histories, while the F2 tier addresses the needs of borrowers facing credit difficulties or those managing specialist properties. This refreshed offering is particularly beneficial for a variety of landlord profiles—ranging from portfolio investors, individual landlords to those operating houses in multiple occupations (HMOs) or multi-unit freehold blocks (MUFBs) (Foundation Home Loans, 2024).
Key highlights from the new offerings include:
• F1 two-year fixed-rate specials starting at 4.74% with a 4% fee, offered at 65% and 75% loan-to-value (LTV) ratios.
• Fixed five-year rates for portfolio landlords beginning at 5.19% and a 6% fee.
• Fee-assisted five-year fixes launching from 5.39% with a 5% fee.
• In addition, the F2 rates for standard HMO and MUFB borrowers commence at 5.29% with only a 3% fee (Foundation Home Loans, 2024).
Tom Jacob, the director of product and marketing at Foundation Home Loans, emphasized the array of flexible products designed to cater to varying borrower circumstances, featuring different terms, LTVs, and fee structures. He expressed optimism about increasing engagement from financial advisors, especially in light of the recent national budget, which he believes will stimulate investment activity. Jacob encouraged advisors to collaborate closely with Foundation’s sales team, given the competitive nature of these new rates, which he asserts are amongst the best in the current market. The refresh of these offerings aims to provide landlords with attractive financing solutions tailored to their individual needs and property types.
Tailoring Solutions for Diverse Landlord Needs
The updates to Foundation Home Loans’ Buy to Let Specials signify a significant shift in the lending landscape for property investors in Yorkshire and beyond. By segmenting their offerings into two specific tiers—F1 and F2—borrowers now have access to tailored finance solutions that suit their unique circumstances. The F1 tier is particularly advantageous for those with solid credit histories looking for competitive two-year fixed rates, while the F2 tier offers crucial support for landlords with specialist properties or credit issues, addressing the diverse needs of the marketplace (Foundation Home Loans, 2024). With the increasing interest in property investment, especially among first-time landlords and portfolio investors, the emphasis on flexibility and diverse financing options is timely. Recent trends indicate that a significant portion of landlords are seeking to expand their portfolios, and these competitive rates may serve as an incentive for greater engagement in the buy-to-let market (Tennent, 2024). As the property sector continues to evolve, initiatives like these from Foundation Home Loans are likely to attract a wide array of landlords looking to optimise their investment strategies within the current economic context.
Please ask us questions via WhatsApp, email, or direct messaging.
