Specialist lender Foundation Home Loans (FHL) has refreshed its core buy-to-let (BTL) and owner-occupied range and launched new remortgage-only BTL products.
The new BTL remortgage-only products are available within Foundation’s F1 and F2 tiers.
Products within the new range cover F1 five-year fixed-rates – available up to 80% LTV from 7.29% – and F2 five-year fixed-rates up to 75% LTV starting from 7.44%.
All the above come with a £1,295 fixed fee, a free standard valuation, no application fee and £500 cashback.
As well as refreshing owner-occupied product rates, Foundation has announced all products which are part of its professionals mortgage range.
The range allows first-time buyers, home movers and remortgagers in eligible professions to borrow up to six times their income and comes with one free standard valuation.
The lender defines a professional as someone currently practicing and holding a relevant qualification.
Its list of eligible professions includes accounting, actuarial, medical, legal, surveying, architecture and engineering.
Foundation Home Loans director of product and marketing Tom Jacob says: “Remortgage activity remains a very strong source of business for advisers and, within buy-to-let in particular, we wanted to acknowledge this by launching specific remo-only products, that come with a number of added extras, including a low product fee, but also free valuations and cashback to help landlord borrowers.
“At the same time, we’re also refreshing both our buy-to-let and owner-occupied product ranges, and supporting our professionals borrowers by introducing a free valuation on these products, which have proved very popular offering higher income multiples.
“Our products are there to support as wide an array of specialist mortgage borrowers as possible, and we’ll continue to look at opportunities within both our buy-to-let and owner-occupied ranges, in order to keep adding product choice and ensuring borrowers have access to the finance they need.”
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