Foundation Home Loans unveils HMO offering
Foundation Home Loans has unveiled a HMO buy-to-let offering available to both individuals and limited companies.
The lender’s HMO range is priced at 3.19% for a 65% loan-to-value 2-year fix and 3.49% for a 65% LTV 5-year fix.
It also offers 75% LTV 2 and 5-year fixes at 3.39% and 3.79%, all with a 2% arrangement fee.
Jeff Knight, marketing director of Foundation Home Loans, said: “We know that landlords with HMOs continue to achieve the highest rental yields – 1.1% above the average according to recent research by BDRC and seem to be growing in popularity.
“Speaking to some of our intermediary partners, they are very delighted to be able to offer more choice to their clients with our new product range to help with their demand.”
Foundation Home Loans uses the same rate for limited company and individual applicants, with the former using an income coverage ratio of 125% and the latter 145%.