BTL lenders unveil new products and rates

Foundation Home Loans’ specialist lending brand, ‘Buy to Let by Foundation’ has expanded its product range to cater to a wider range of landlord needs.

The new additions include BTL mortgages specifically designed for larger houses in multiple occupation (HMOs), multi-unit freehold blocks (MUFBs) and expat borrowers.

There are also products for borrowers with an ‘almost clean’ credit history and those with ‘historical blips’.

New product rates include:

• Green expat five-year fixed-rate mortgage – for properties with an A-C EPC – available up to 75% LTV with a rate of 5.99%. The product has a 1.25% fee but no application fee and comes with a free valuation
• Expat standard, HMO and MUFB five-year fixed-rate mortgages, with rates reduced by 0.5%, and starting at 6.09%
• Large HMOs two- and five-year fixed-rate mortgages, with rates reduced by up to 0.4%, and starting at 6.19%, with a 2% fee
• MUFBs two- and five-year fixed-rate mortgages, with rates reduced by up to 0.3%, and starting at 5.99%, with a 2% fee.

Big step forward for the brand

The lender’s director of product and marketing, Tom Jacob, said: “The addition of larger HMOs, MUFBS and expat products to our core ‘Buy to Let by Foundation’ range is a big step forward for the brand, providing access to a wider range of options for all landlord clients, but particularly those portfolio players who are looking to add or refinance such properties.

“We’re aware of many professional landlords with substantial portfolios who either have HMOs or MUFBs already, or are looking to purchase, or indeed are looking to change existing properties to higher-yielding, multi-tenanted ones.”

KRFI unveils limited edition BTL 1-year fixed range

Meanwhile, specialist lender Kent Reliance for Intermediaries (KRFI), which is part of the OSB Group, has revealed a new BTL limited edition 1-year fixed product.

Designed to help brokers and their clients, it includes three different fee options, including £0 so brokers can advise on the best financing choices for landlords. Key highlights include:

• Rates available from 4.29%
• 75% and 80% LTV options
• 1% ERC
• Lower revert rate at BBR +1.5%
• Access to product transfers at maturity.

OSB’s group intermediary director, Adrian Moloney, said: “As we head towards the end of the year, we’re focused on providing brokers with flexible financing options which is vital in such a changeable market.

“This latest product offering shows our commitment as well as our focus on providing excellent outcomes.”

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