Good news for landlords looking to boost their portfolios: Foundation Home Loans has slashed rates and launched a new product specifically for those buying Houses in Multiple Occupation (HMOs). This is a big deal, especially with everyone talking about the soaring demand for rental properties!

What’s New?

Foundation Home Loans, a leading buy-to-let mortgage provider, has launched a new five-year fixed rate for HMO borrowers, available at 5.74% up to 75% LTV with a fixed fee of £4,995. This new product is ideal for landlords looking to invest in larger properties that can accommodate multiple tenants.

Even Better Deals for HMOs and Multi-Unit Freehold Blocks:

• Foundation has also dropped the price on existing products:
  • The five-year HMO fixed rate is now starting from 6.14% up to 75% LTV.
  • The five-year short-term let fix rate is now starting from 6.44% up to 75% LTV.
• Foundation’s Solutions by Foundation brand, which offers mortgages for specialist buy-to-let needs, also has great news:
  • Large HMO and HMO Plus rates have been cut by 10 bps.
  • Multi-unit freehold block rates have been cut by 20 bps.

What Does This Mean for Landlords?

These changes are all about making it easier for landlords to secure the financing they need to add to their portfolios or refinance existing properties. Tom Jacob, director of product and marketing at Foundation Home Loans, explains: “Landlords continue to seek higher rental yield and are increasingly drawn to higher-yielding properties like HMOs and MUFBs, so it’s not surprising we are seeing a growing interest in this part of the market.”

Why Are HMOs Hot Right Now?

Simple: There’s a massive demand for rental properties, and HMOs are a great way to get into the game. These properties can provide higher rental yields than traditional single-family homes. With this new product and reduced rates, Foundation is making it even easier for landlords to capitalize on this opportunity.

Ready to Take Advantage of These Deals?

Get in touch with Foundation Home Loans to discuss your options and find out how these new products can help you reach your investment goals. Now’s the time to get ahead of the game and secure your piece of the booming rental market!