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Foundation Home Loans revamps product range ahead of rate hike

Foundation Home Loans has expanded its HMO product range and re-priced select buy-to-let mortgage rates in response to SWAP rate changes.

Highlights include new three-year fixed rate deal at 3.29% available at up to 65% loan-to-value (LTV) and another three-year product at 3.74% available up to 75% LTV.

Both products, which are available to portfolio and non-portfolio landlords, buying as an individual or limited company, are subject to a 1.5% arrangement fee.

In addition to the new products, the specialist lender has also increased the majority of its buy-to-let mortgage rates, following the Bank of England’s indication of an earlier than expected rise in interest rates.

Jeff Knight, director of karketing at Foundation Home Loans, said: “With swap rates moving upwards, repricing our buy-to-let range was absolutely the right thing to do. Nonetheless, intermediaries will be pleased to know our buy to let products remain competitive for portfolio and non-portfolio landlords.  At the same time, we took the opportunity to widen our HMO range which is becoming increasingly popular since launching in August last year.”

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