Foundation adds 80% LTVs to specialist BTL range; InterBay enhances BTL offering – round-up
Foundation has launched Buy to Let Special products, with two- and five-year fixed rate options at 80% loan to value (LTV).
The products will be available across its F1 criteria, as well as standard house in multiple occupation (HMO) and multi-unit freehold block (MUFB) products.
Foundation said the range would give brokers and their landlord clients more options, adding that the products offered competitive rates with higher fees to provide an alternative to its existing fee-free options at 80% and 85% LTV.
The F1 options include a two-year fix priced at 5.09% with a 3% fee and a five-year fix at 5.69% with a 4% fee.
The F2 HMO products include a two-year fix with a rate of 5.19% and 3% fee, and a five-year fix with a rate of 5.79% and a 4% fee.
The F2 MUFB deals include a two-year fix with a rate of 5.29% and 3% fee, and a five-year fix with a rate of 5.89% and 4% fee. The products are available on MUFBs with up to six units.
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Grant Hendry, director of sales at Foundation, said: “We continue to be committed to ensuring our products and pricing remain relevant and competitive for brokers and their landlord clients.
“These new additions strengthen our specialist BTL proposition, providing lower-rate options across our F1, Standard HMO and MUFB ranges at 80% LTV. As landlords continue to look for ways to maximise yields from specialist property types, it’s important that we offer a range of solutions to meet different needs.
“By introducing both two- and five-year fixed rate options, we’re giving intermediaries greater flexibility and more choice when recommending the most appropriate product for their clients. Combined with our existing fee-free products, this latest launch further enhances the breadth of options available to brokers in the specialist buy-to-let market.”
InterBay broadens BTL options
InterBay, part of OSB Group, has enhanced its BTL proposition with a number of changes.
The lender has added options at 65% LTV to give brokers more choice for their clients. This includes a two-year fix priced at 6.44% with a 2% fee for loans between £1m and £2m, or 4.94% with a 5% fee. The corresponding five-year fixed rates are 6.44% and 5.84% respectively.
InterBay has also launched a £10m-25m pricing band to support larger transactions with competitive rates linked to higher loans.
Pricing within this range includes a two-year fix at 6.09% with a 2% fee and 4.59% with a 5% fee, both at 65% LTV. Five-year options are priced at 6.09% and 5.49% respectively.
Further, InterBay has lowered BTL and product transfer rates by up to 0.2%.
