Foundation Home Loans has refreshed a number of 2-year fixed rates within its core buy-to-let (BTL) product range.
In its F1 tier – for borrowers with an almost clean credit history – Foundation introduced a new limited edition 2-year fixed-rate buy-to-let product, available up to 70% loan-to-value (LTV), priced at 5.94% with a 3.5% fee.
Foundation also reduced its F1 2-year fixed rates by up to 0.35%, with rates starting at 6.94% for its 65% LTV, with a 1.5% fee.
Foundation also made changes to its 2-year range within the F2 tier – for borrowers financing a more specialist property or with some historical credit blips – with rates cut by up to 0.35%, starting at 7.09%.
Standard house in multiple occupation (HMO) F2 2-year fixed rates were cut by 0.25% to 7.19% up to 65% LTV, and by 0.20% to 7.29% up to 75% LTV. Both products come with a fee of 1.5%.
Short-term let 2-year fixed rates have also had rates cut, available at 7.34% up to 65% LTV (a cut of 0.15%) and 7.44% (a cut of 0.10%) – both products also come with a 1.5% fee.
This followed Foundation’s launch last week of a new range of owner-occupied mortgages covering both its core range and introducing a number of special products.
Tom Jacob (pictured), director of product and marketing at Foundation Home Loans, said: “We continue to take the opportunity to review and refresh our core buy-to-let product range and this week we are able to make some significant price cuts in both the F1 and F2 ranges, plus for both standard HMOs and short-term let products.
“This is an important time of the year for many landlord borrowers, particularly those who are looking for refinance options in the current market.
“These new and refreshed buy-to-let products provide a further range of rate options.
“Foundation is fully committed to the buy-to-let product space and we would urge advisers to contact our sales team to see how we can support their business in this important area.”
