Foundation Home Loans has launched a number of remortgage products across both its buy-to-let (BTL) and residential ranges.

Within its BTL range, advisers will be able to access fee-assisted 2 and 5-year fixed-rate remortgage products, available at both 65% and 75% LTV; 2-year fixed rates start at 3.34% and 5-year fixed rates start at 3.54%.

The products are available to individuals and limited companies, for both portfolio and non-portfolio landlords, they include one free standard valuation per case, no application fee, and £250 cashback on completion.


Moneyfacts: Average BTL rates continue to rise

The lender is also launching an ‘early’ remortgage product for standard houses of multiple occupation (HMOs) of up to six occupants, which allows the borrower to remortgage within six months of the initial purchase.

This is a 5-year fixed-rate product of 3.99% at 75% LTV, with a product fee of 2%.

Furthermore, it is introducing a fee-assisted range of residential remortgage products for owner-occupiers; these 2 and 5-year fixed rates are available at 65%, 75% and 80% LTV, and rates start at 3.49% for 2-year fixed rates and 3.99% for 5-year.

This residential remortgage range also comes with the same incentives as the buy-to-let fee-assisted products.

George Gee, commercial director at Foundation Home Loans, said: “Recent mortgage data from CACI suggests there is likely to be significant number of product maturities in December – valued at £33.18bn – while 2021 could see the total maturity figure hitting £250bn.

“This is a large amount of potential remortgage business, as we anticipate purchase activity beginning to tail-off the closer we get to next March’s stamp duty deadline.

“In order to support advisers with clients wishing to remortgage, we’ve launched these new remortgage products across both our buy-to-let and residential ranges, with competitive pricing and a range of incentives for our fee-assisted loans.

“Our anticipation is that demand for remortgages will continue to grow and, with 2020 providing an added layer of complexity for many existing borrowers, we wanted to provide a competitive remortgage product range alongside our criteria, which takes into account what might have happened to a borrower’s individual finances.

“As always, our priority is to support advisers, we are working very closely with advisers to progress existing client cases as quickly as possible, and looking forward we believe these new remortgage products will appeal to both landlord and residential clients alike.”