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Foundation Home Loans offer first-time landlords ‘more options’

Foundation Home Loans yesterday announced that it is improving its first-time landlord range, with the introduction of a five-year fixed rate option, with rates starting at 3.59%.

The idea behind the new mortgage product range is to offer first-time landlords the opportunity for longer term stability on their initial investment.

The specialist mortgage lender has also reduced its existing early repayment charges for two-year fixed rate deals to 3% and 2%, aligning the rates with the offerings available from the two-year ‘standard’ and ‘specialist’ range.

“Deciding to become a landlord for the first time can be daunting, so in an industry increasingly focused on portfolio landlords it’s important not to forget those just starting out,” said Jeff Knight, marketing director at Foundation Home Loans.

“Our approach aims to cater to all borrowers, whatever their portfolio size, but we are pleased to be able to offer First Time Landlords more options,” he added. 

New first-time landlord rates will be as follows:

FTL Products

LTV

Rate

2 year fixed

65%

3.19

75%

3.39

5 year fixed (new)

65%

3.59

75%

3.79

 

 

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