Buy to Let by Foundation, the buy-to-let (BTL) brand of Foundation Home Loans, has introduced price cuts.
The lender made cuts of 0.15% to both its F1 and F2 2-year fixed-rate products, with rates now starting from 6.49% with a 1.5% fee.
Product pricing was cut by up to 0.10% on Foundation’s pound-for-pound F1 and F2 remortgage-only products.
These 2-year deals now have rates starting from 6.64% with a 1.5% fee, and all applicants are assessed at pay rate with an ICR of 125%.
Other rate cuts include a F2 2-year fixed-rate Large Portfolio product, reduced by 0.10%, with a rate of 6.79%, F2 2-year fixed-rate HMO products reduced by up to 0.10%, with rates starting from 6.74%, and F2 2-year fixed-rate Short Term Let products reduced by up to 0.05%, with rates starting from 6.89% with a 2% fee.
Finally, ‘Buy to Let by Foundation’ reduced the product fee on its F2 5-year fixed-rate Large Loan product by 0.25%.
The fee is now 1.25% for products up to 70% loan-to-value (LTV).
Tom Jacob (pictured), director of product and marketing at Foundation Home Loans, said: “Advisers will have noted over the past few weeks in particular that the direction of travel on rates has been downwards, and at ‘Buy to Let by Foundation’ we’re pleased to announce a series of further price cuts by up to 0.15% across a number of F1 and F2 products.
“Our 2-year fixes for both F1 and F2 borrowers have seen a considerable cut, while we’re also focused on supporting existing landlord borrowers who are not seeking to add to their loans and are instead seeking pound-for-pound remortgages at competitive rates.
“Other price cuts come across a number of F2 products including Large Portfolio, HMO and Short-Term Lets, all areas which have grown in popularity amongst landlords particularly as they seek higher-yielding property investments.
“We’ll continue to closely monitor the market in order to ensure our buy-to-let product range is as competitive as it can be, and that we are meeting the needs of advisers and their landlord clients.”
