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TODAY'S OTHER NEWS

Foundation sees rise in portfolio landlord and limited company BTL business

There has been a significant increase in both portfolio landlord and limited company buy-to-let business over the past 12 months, according to Foundation Home Loans.

The latest figures show that the specialist lender saw a 130% increase in its volume of limited company business compared with the same month last year, while the number of limited company applications received in May was also up – rising by 104% year-on-year.

In an attempt to further boost business, Foundation has launched a new five-year fix ‘remortgage special’ product aimed at portfolio landlords, limited companies and individuals.

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The new deal, available at 3.59% up to 65% loan-to-value (LTV) and 3.89% up to 75% LTV, comes with a flat fee of £2,995 with stepped ERCs from 5% down to 1%.

The product also comes with free standard valuation and £250 cashback upon completion.

Jeff Knight, director of marketing at Foundation Home Loans, commented: “Our highly-skilled underwriters have a real understanding of complex buy-to-let, and are able to help our intermediary partners with complex BTL, HMOs, multi-unit blocks, limited company and portfolio landlord customers.

“We are seeing huge interest in this area of the market and will continue to develop our proposition to meet the needs of our intermediary partners and their clients in this product area.”

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