Specialist lender Foundation Home Loans has increased the maximum LTV on its standard and first-time landlord buy-to- let products.
From today, up to 80 per cent LTV will be available on the products, up from 7 per cent, and come with a choice of fee: either a 2 per cent arrangement fee or a flat £1,995 fee.
Rates for the products start from 3.85 per cent. Foundation Home Loans director of marketing Jeff Knight says: “We recently undertook a market test through some of our key distribution partners in order to test demand. Following the successful pilot, we have chosen to increase our LTVs across our Standard and First Time Landlord products – available to a much wider distribution.
“As a growing and ambitious company, we are always looking for ways to enhance our proposition to landlords, both non-portfolio and portfolio landlords. Our rates are also the same for both limited companies and individuals.”