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Foundation Home Loans has revealed a new buy-to-loan product allowing borrowers to access up to £1.5m.

The launch follows the intermediary-only lender’s recent increase of the maximum loan size for HMO mortgages to £1m.

New 65% LTV ‘large loan’ mortgage is available to those with previous landlord experience – individuals and limited companies. The technical details are as follows:

  • Five-year fixed rate started at 2.99%;
  • Interest rate cover ratio of 125% x pay rate for limited companies, 145% for individuals;

Andrew Ferguson, Foundation Home Loans commercial director, says: “Having listened to our broker network, we have launched a new buy to let product with the capacity to take on larger loans as requested. As with our existing products, the ICRs assigned to our new Large Loan product are no different.”

the HMO Mortgage Broker

the HMO Mortgage Broker

The details of financial products and services published on this site are for information purposes only and do not constitute financial advice. Please note that the lending products on this website include business buy to let products and not consumer but to let products and so no products displayed are regulated by the Financial Conduct Authority (FCA). Calls may be recorded for training and monitoring. Your property may be repossessed if you do not keep up repayments on your mortgage. theHMOmortgagebroker.co.uk is a direct introducer, working in partnership with the FCA, authorised companies only.

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