Specialist lending broadens investor finance choices
Intermediary-only specialist lender Foundation has launched new products aimed at investors financing more complex property types with larger loan sizes.
This includes an expansion of its buy to let product range adding new Green, HMO, MUFB, Holiday Let and Expat options.
Its new Green Standard HMO product has a 5.59% rate and a 4% fee, as well as a £500 cashback and no application fee for properties with an A-C EPC rating.
It has introduced two new five-year fixed-rate product options for more specialist cases covering multi-unit freehold blocks (MUFB) and holiday lets, both of which have a flat fee of £4,995. The MUFB product comes with a rate of 6.24% and the Holiday Let is priced at 6.34%.
In addition to these, Foundation has also changed its Expat offering with the launch of a new F2 –two-year fixed-rate product, priced at 6.34% with a 1.5% fee.
Within its F1 range – for clients with an almost clean credit history – Foundation has launched a new Green five-year fixed-rate, offered at 5.49%, with a 5% fee. Products in the range are available for properties with an A-C EPC rating. There are no valuation or application fee costs for this range.
Last month, Foundation launched new specialist products covering both Large HMO and Short-Term Let, as well as rate reductions on selected products across the Buy to Let range.
Continued interest amongst expat investors
Grant Hendry, director of sales at Foundation, said: “In the current market, brokers need a lender that can offer both consistency and breadth of product, particularly as landlord cases become more varied and often more complex.
“These latest additions are about making sure brokers have the right options available, whether they are placing standard buy to let business or working across more specialist areas such as HMOs, MUFBs or holiday lets.”
“We’re also seeing continued interest in expat borrowing, and it’s important we keep that range competitive while still reflecting wider market movements. At the same time, the introduction of new Green products is another step in supporting landlords who have improved existing properties or are targeting more energy-efficient investments from the outset.”
