We have been receiving an increasing demand from intermediaries for larger loan sizes, so this is a simple move in response to that.
Foundation Home Loans is increasing the maximum loan size across its buy-to-let range in response to increasing demand.
With immediate effect, the maximum individual loan size increases to £1m for loans up to 65% LTV. For loans up to 75% and for HMOs, the maximum loan size remains £500,000.
Foundation Home Loans recently launched an HMO product to expand its buy-to-let offering and has removed the £500 processing and administration fee for buy-to-let applications from limited companies.
Jeff Knight, Director of Marketing at Foundation Home Loans, said: “We have been receiving an increasing demand from intermediaries for larger loan sizes, so this is a simple move in response to that. As a growing specialist intermediary lender, we will continue to identify ways to expand our product proposition to the market.”