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2-year fixed rate buy-to-let mortgage aimed at professional landlords

23 May 2017

Foundation Home Loans has launched a new 2-year fixed rate deal aimed primarily at professional landlords borrowing large amounts.

The new buy-to-let product, which will only be available for a limited time, offers a rate of 2.89% with a 1% arrangement fee. Minimum loan is £200,000, with the product available at a rental calculation of 125% x 5.5% notional rate for limited companies and 145% x 5.5% notional rate for individuals.

Foundation Home Loans is a specialist lender, available only through intermediaries and designed for clients with more complex needs. It has recently launched its residential product range in addition to its established buy-to-let proposition and has undergone a re-branding to reflect its repositioning within the market. 

Jeff Knight, marketing director at Foundation Home Loans, said that despite seeing a major shift towards 5-year fixed rate deals in recent months, largely due to the way rental calculations are working, the company’s recent focus groups highlighted that many landlords do not want to be tied into longer term deals. “This shorter term product will therefore appeal to those portfolio landlords who prefer greater flexibility with their products,” he said.

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