Foundation Home Loans has introduced a new F1 buy-to-let (BTL) Limited Edition 5-year fixed-rate product for portfolio landlords and reduced the rate on its existing 2-year Limited Edition fix.
The new 2-year fix is available at 5.24% up to 75% loan-to-value (LTV) with a 1.75% fee.
It is aimed at portfolio landlords with an almost clean credit history and includes a free standard valuation and no application fee.
The lender has also reduced the rate on its current 2-year Limited Edition fix by 0.25%, bringing it to 4.99% at 75% LTV.
This product carries a £2,995 fee and has a minimum loan size of £200,000.
Foundation said the updated range is designed to support brokers working with landlords who may have delayed decisions ahead of the recent Budget.
Tom Jacob, director of product at Foundation Home Loans, said: “Many landlords have spent the last few weeks waiting to see what the Budget would bring.
“Now that we have more clarity, the changes that could affect them are still some way off, and we expect a number of brokers to see renewed interest from clients who had paused decisions.
“By cutting the rate on our F1 Limited Edition two-year fixed, we are giving brokers a sharper option for larger loans, with a simple flat fee and a competitive rate.
“Alongside this, our new F1 Limited Edition five-year fixed is aimed squarely at portfolio landlords who are focused on growing and reshaping their holdings, helped by the combination of a competitive rate, percentage fee, free standard valuation and no application fee.”
He added: “We know brokers want lenders who stand with them during all market periods. These changes show our ambition to support both brokers and their landlord clients with clear options, steady service and products that work for the type of cases they are placing.
“Our teams remain on hand to help with case queries, product selection and any support advisers need as activity builds again.”
