Foundation Home Loans has announced an exciting reform of its Buy to Let Specials, featuring attractive new competitive rates starting from November 12,
2024. This revamped offering provides diverse options for landlords while addressing the needs of different borrower profiles. Organized into two distinct tiers—F1 and F2—these products are set to enhance the property investment strategies of both seasoned and novice landlords in Yorkshire and beyond.
Key Takeaways
- Foundation Home Loans has introduced new competitive rates for Buy to Let Specials, effective November 12,
2024. - The offerings include two tiers, F1 for borrowers with clean credit histories and F2 for those managing specialist properties or with credit issues.
- Key features include fixed-rate options suitable for both portfolio landlords and those managing HMOs and MUFBs, enhancing financing diversity.
Overview of Foundation Home Loans’ Buy to Let Specials
Foundation Home Loans has unveiled an updated range of Buy to Let Specials, set to go live on November 12,
2024. These new products are segmented into two distinct tiers: F1 and F2, targeting different types of borrowers. The F1 tier is tailored for individuals with a strong credit profile, while the F2 tier is aimed at those dealing with specialist properties or who may have existing credit challenges. This revamp caters to a broad spectrum of landlords, including those managing portfolio properties, Houses in Multiple Occupation (HMOs), and Multi-Unit Freehold Blocks (MUFBs).
Key offerings include competitive two-year fixed-rate loans starting at
4.74% with a 4% fee for the F1 tier, available at loan-to-values (LTV) of 65% and 75%. For long-term financial planning, portfolio landlords can benefit from five-year fixed rates beginning at
5.19% with a 6% fee, also available at the same LTV tiers. In addition, there are fee-assisted five-year fix options, starting from
5.39% with a reduced 5% fee. Meanwhile, F2 products, which target HMO and MUFB borrowers, commence at
5.29% with a 3% fee, ensuring that diverse types of investment properties are catered to.
Tom Jacob, director of product and marketing at Foundation Home Loans, highlighted the importance of these new options in fostering landlord confidence, particularly in light of the changing economic landscape following the recent national Budget. He encouraged financial advisers to leverage the expertise of Foundation’s sales team to help clients navigate these updated financial solutions effectively. With this range of offerings, Foundation Home Loans demonstrates its commitment to providing flexible and competitive financing options for landlords looking to grow their property investments.
Detailed Product Offerings and Benefits
The recent updates from Foundation Home Loans reflect a significant shift aimed at enhancing borrower accessibility and choice in the increasingly competitive Buy to Let market. The introduction of tiered options allows more landlords to find a suitable financing solution tailored specifically to their needs. The F1 tier, with lower rates for those with excellent credit, extends an invitation to a wider pool of borrowers, while the F2 tier addresses the unique challenges faced by those managing specialized properties or with credit difficulties. This dual-approach underscores a growing recognition of the diverse landlord landscape, which has seen substantial evolution amid ongoing economic uncertainties (Foundation Home Loans, 2024). With flexible products now available, it appears that Foundation Home Loans is not only responding to the immediate needs of current landlords but also positioning itself as a progressive leader in the financial services sector, dedicated to fostering a supportive environment for property investment in Yorkshire and beyond.
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