Foundation Home Loans has announced that it has increased the maximum total borrowing limits on its buy-to-let range from £2m to £3m, further supporting advisers and their portfolio landlord clients.
The specialist lender already has no limit on the number of properties a buy-to-let landlord may own, subject to this increased new maximum total limit of £3m.
Foundation’s aim is to provide portfolio landlords with an easy to use system to secure funds and does not ask for business plans or asset and liability statements.
“With our pragmatic approach, we strive to make things as easy as possible for advisers and their landlord clients by having no limit to the number of properties a portfolio landlord may have with us, subject to the new £3m limit,” said Jeff Knight, marketing director at Foundation Home Loans.
There is also no requirement for potential clients to submit onerous business plans or asset and liability statements,” he added. “By increasing our portfolio limit to £3m we hope to enhance our proposition even further.”
Earlier this month, Foundation Home Loans launched a new set of products across its entire buy-to-let range, in order to offer greater choice to both non portfolio and portfolio landlords.
The new products, which you can read about by clicking here, are available across its standard, specialist, HMO and first time landlord range.