Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.

Foundation and InterBay Expand Specialist Buy-to-Let Mortgage Options

Foundation has introduced new Buy to Let Special products, offering two- and five-year fixed rate options at 80% loan to value (LTV). These products are available across Foundation’s F1 criteria, as well as standard house in multiple occupation (HMO) and multi-unit freehold block (MUFB) products.

According to Foundation, the new range is designed to provide brokers and landlord clients with more options. The products feature competitive rates with higher fees, offering an alternative to Foundation’s existing fee-free options at 80% and 85% LTV.

The F1 options include a two-year fixed rate at 5.09% with a 3% fee, and a five-year fixed rate at 5.69% with a 4% fee. For F2 HMO products, the two-year fix is set at 5.19% with a 3% fee, and the five-year fix at 5.79% with a 4% fee. The F2 MUFB deals include a two-year fix at 5.29% with a 3% fee, and a five-year fix at 5.89% with a 4% fee. These MUFB products are available for properties with up to six units.

InterBay, part of OSB Group, has also enhanced its buy-to-let proposition. The lender has introduced new options at 65% LTV, including a two-year fix at 6.44% with a 2% fee for loans between £1 million and £2 million, or 4.94% with a 5% fee. The corresponding five-year fixed rates are 6.44% and 5.84% respectively.

Additionally, InterBay has launched a new £10 million to £25 million pricing band to support larger transactions, with competitive rates linked to higher loan amounts. Within this range, pricing 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. InterBay has also reduced buy-to-let and product transfer rates by up to 0.2%.

These developments provide letting agents and inventory clerks with updated information on mortgage products relevant to landlords with specialist property types, including HMOs and multi-unit blocks.