Foundation Home Loans has made a significant move in the mortgage market, unveiling competitive Buy to Let Specials that are set to launch on 12th November
2024. This new selection features tailored options across two distinct tiers—F1 and F2—allowing borrowers to find suitable products based on their credit history and property types. The F1 tier caters to individuals with near-perfect credit histories, while the F2 tier is designed for clients who may face unique challenges or who are involved with specialist properties such as Houses in Multiple Occupation (HMOs) and Multi-Unit Freehold Blocks (MUFBs). With fixed interest rates starting as low as
4.74%, these new offerings reflect Foundation Home Loans’ commitment to addressing the diverse needs of landlords in today’s market. Tom Jacob, director of product and marketing, emphasizes the importance of these updates in fostering landlord confidence and enhancing activity in the sector post-Budget.
Key Takeaways
- Foundation Home Loans is launching updated Buy to Let Specials with competitive rates starting November 12,
2024. - The offerings cater to different borrowers through F1 and F2 tiers, accommodating both good credit histories and specialist property needs.
- Financial advisors are encouraged to collaborate with Foundation Home Loans to customize solutions for their clients’ varying requirements.
Overview of Foundation Home Loans’ Buy to Let Specials
Foundation Home Loans has revealed an update to its *Buy to Let Specials*, effective from 12th November 2024, which introduces a competitive array of products designed to cater to a range of borrower needs. This updated offering is segmented into two tiers: F1 and F2. The F1 tier is tailored for borrowers with a near-pristine credit history, presenting attractive two-year fixed-rate specials starting from
4.74% with a 4% fee, available at both 65% and 75% loan-to-value (LTV) ratios. For portfolio landlords, a five-year fixed rate begins at
5.19%, with a higher 6% fee under the same LTV parameters, whereas fee-assisted five-year fixed rates are offered starting at
5.39% with a 5% fee. In contrast, the F2 tier caters to clients with more complicated credit histories or those investing in specialist properties, offering two and five-year fixed rates for standard house in multiple occupation (HMO) and multi-unit freehold block (MUFB) borrowers starting at
5.29% with a 3% fee. Tom Jacob, the director of product and marketing at Foundation Home Loans, emphasized the expansive product range aimed at satisfying the varying demands of landlords, expressing optimism regarding improved market conditions following the national Budget. He anticipates a resurgence in confidence among landlords, which could subsequently result in heightened activity from advisers as they navigate these competitive offerings. Jacob encourages financial advisors to connect with the sales team for tailored support to best serve their clients’ needs, asserting that these specials are among the strongest currently on offer from Foundation Home Loans.
Details of F1 and F2 Tier Offerings
The recent updates to Foundation Home Loans’ offerings are significant for landlords seeking flexible mortgage solutions. The launch of F1 and F2 tiers represents a strategic move to accommodate both traditional investors and those navigating more complex financial situations. Specifically, the F1 tier is focused on landlords with stable credit histories, making it easier for them to secure favorable terms for property purchases or remortgages. On the other hand, the F2 tier is crafted for those facing challenges, such as investing in property types like HMOs or MUFBs, providing necessary financial pathways for a broader range of borrowers. This new structure is anticipated to not only enhance investor confidence but also drive greater engagement between financial advisors and their clients as they explore these competitive rates (Foundation Home Loans, 2024). As the financial landscape shifts post-Budget, these offerings position Foundation Home Loans as a key player in the market.
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