Foundation Home Loans has refreshed its buy-to-let (BTL) and owner-occupier ‘specials’ product range to incorporate rate reductions of up to 0.35%.
For buy-to-let, Foundation reduced its 5-year fixed rate F1 Portfolio Landlord special by 0.35%.
This now comes with a headline rate of 6.09%, a 4% fee and is available up to 75% loan-to-value (LTV).
The rate on the 2-year fixed rate F1 Portfolio Landlord special was cut by 0.25%, starting at 6.44% with a 2.5% fee, and available up to 75% LTV.
The lender’s F1 buy-to-let fixed rate specials saw a reduction of 0.20%, these now start at 6.79%.
Rates on the F2 buy-to-let fixed rate specials fell by 0.10%, now starting at 6.94%, while the fixed rate F2 HMO specials came down by 0.05% and now start at 7.04%.
For its owner-occupier specials product range, Foundation cut rates by up to 0.25% on Foundation’s F1 and F2 fixed rate specials over 2-years and 5-years.
F1 fixed rate specials now start from 6.84% and F2 fixed rate specials now start from 6.99%.
Foundation’s current service levels continue to average turnaround times of one day for DIP referral, application and underwriter review for all cases.
Tom Jacob (pictured), director of product and marketing at Foundation Home Loans, said: “Enquiry and engagement levels have remained strong at the more professional end of the landlord spectrum throughout the many ups and downs experienced over the course of 2023, and this is an area which will dominate the buy-to-let sector going forward.
“As such, we expect these latest rate reductions to prove extremely popular with portfolio landlords who are looking to take advantage of opportunities which continue to present themselves across the buy-to-let sector.”
