Foundation Home Loans has cut rates across its buy-to-let (BTL) products, targeting specialist property types.
The lender said the update aims to help landlords with properties outside standard criteria, like houses in multiple occupation (HMOs), multi unit freehold blocks (MUFBs), short-term lets and expat borrowing.
Rates have dropped by up to 0.55% on some products.
The limited edition HMO 5-year fixed at 75% LTV is now 5.64%, down 0.20%, with a £2,995 fee and minimum loan size of £150,000.
Standard HMO 2-year and 5-year fixes up to 75% LTV are down by up to 0.40%, starting from 5.74% with a 2% fee.
MUFB 2-year and 5-year fixes up to 75% LTV now start from 5.84%, down by up to 0.55%, also with a 2% fee.
Meanwhile, short-term let 2-year and 5-year fixed rates at 75% LTV are reduced by up to 0.35%, now from 6.19%.
Expat 2-year and 5-year fixes at 75% LTV are down by up to 0.45%, starting from 5.89%.
Additionally, Foundation’s core F1 and F2 ranges, covering clients with near clean credit or those financing more specialist property or with some historic credit issues, have been cut by up to 0.35% up to 80% LTV, with rates now from 5.49%.
Within Foundation’s BTL specials, F1 2-year and 5-year fixed rates at 65% and 75% LTV decreased by up to 0.15%, with rates from 4.09% and a 4% fee.
Portfolio landlord 5-year fixed rates at 65% and 75% LTV now start from 4.79%.
Furthermore, HMO 2-year fix at 75% LTV is now 4.64%, down 0.10%, and MUFB 5-year fix at 75% LTV dropped by 0.10%, now from 5.49%, both with a 4% fee.
Tom Jacob (pictured), director of product and proposition at Foundation Home Loans, said: “This latest refresh demonstrates the breadth and depth of our commitment to the specialist Buy to Let sector.
“By significantly reducing rates across property types such as HMOs, MUFBs, Short Term Lets, and for expat borrowers, we’re giving advisers even more tools to meet the unique and varied needs of their landlord clients.
“Whether it’s an experienced portfolio landlord or someone entering the market with a non-standard property, our range is built to support them with tailored solutions and competitive pricing.”
Jacob added: “We’ve also kept a sharp focus on service, because we understand that in specialist lending, time matters.
“Our average turnaround times, including DIP decisions, case reviews and underwriter assessments are all within one working day meaning advisers can rely on us not only for a comprehensive product offering, but for consistent speed and support from start to finish.”
