Foundation Home Loans has made rate cuts on its buy-to-let (BTL) and residential mortgage products.
The specialist lender has lowered prices on its special and limited edition buy-to-let offerings while also adjusting rates on 2-year and 5-year fixed residential mortgages.
In the BTL range, the F1 special portfolio landlord-only rates decreased by 0.25% to 4.59%, with a 6% fee.
The F1 special fee-assisted rates fell by 0.15% to 4.84%, carrying a 5% fee, and the F1 special 2-year fixed rates dropped by 0.35%, starting at 4.24% (4% fee) and 4.74% (3% fee).
F2 house in multiple occupation (HMO) special rates also decreased by 0.35% to 4.79% for 2-year fixed options and by 0.25% to 5.29% for 5-year fixed options, both with a 3% fee.
Three F1 Limited Edition products also experienced changes. A 2-year fixed-rate now sits at 5.55%, down 0.14%, with a 1.25% fee.
A new 5-year fixed-rate is available at 5.54% with a £2,495 flat fee.
The Green ABC+ 5-year fixed-rate for EPC Level A-C properties dropped by 0.05% to 5.34%, with a £4,495 flat fee.
In the residential category, F1 rates for borrowers with minor credit issues have decreased by up to 0.3%, starting at 5.94%.
F2 rates for those with recent credit problems also fell by up to 0.3%, beginning from 6.14%.
Both options include a £795 fee, a free valuation, and no application fee.
Tom Jacob, director of product and marketing at Foundation Home Loans, said: “Clearly, we are in a period of significant movement when it comes to product rates, and we’re very pleased to be able to announce these rate cuts across our Special and Limited Edition buy-to-let mortgages, as well as a number of residential two- and five-year fixed-rates.
“In the buy-to-let space, we are providing both competitive rates and a wide choice of fee arrangements to provide advisers and their landlord borrowers with the ability to meet affordability in a variety of ways and to choose the fee structure that works best for them.
“For specialist residential borrowers, we have been able to cut rates on both two- and five-year fixes in both our F1 and F2 tiers, and again we are opening up more competitive options for those borrowers who currently miss out on the mainstream.
“Overall, whether you have a landlord client looking to expand or refinance their portfolio, or you have residential borrowers who require specialist underwriting, we have plenty to offer with today’s price cuts and the rest of our range.”
