Foundation Home Loans has reduced rates on both its buy-to-let (BTL) and owner-occupied Specials.
In its buy-to-let Specials range, F1 tier products – for clients with an almost clean credit history – were reduced by 0.45%, with a 5-year fix for portfolio-only starting from 4.79%, with a 6% fee.
The lender’s F1 fee-assisted, 5-year fix products for portfolio landlords were reduced by 0.50% with rates starting from 5.09%, with a 5% fee.
In addition, Foundation’s 2-year and 5-year fixed-rate BTL products were reduced by up to 0.50%, with rates starting from 5.19% with a 3% fee.
Across its F2 tier for houses in multiple occupation (HMO), 2-year and 5-year fixed rate products were reduced by up to 0.45%, with rates starting from 5.34%, with a 3% fee.
In its Owner-Occupied Specials Range, changes included F1 2- and 5-year fixed-rate fee assisted products cut by up to 0.40%, with rates starting from 6.44%, with a £795 fee, and F2 2-year and 5-year fixed-rate fee assisted products reduced by up to 0.40%, with rates starting from 6.54%, with a £795 fee.
Tom Jacob (pictured), director of product and marketing at Foundation Home Loans, said: “The market continues to move positively in favour of borrowers, and as a result, we’ve been able to reduce rates across a large number of Specials, for both buy-to-let and owner-occupied clients.
“In buy-to-let we’re very pleased to be able to offer a 5-year fix below 5% and we have made further reductions across both 2- and 5-year fixes, within both our F1 and F2 tiers, and we’re sure these will provide further options to advisers with landlord clients.
“We’ve made similar reductions in our owner-occupied range, again for both F1 and F2 clients, so those clients who are not quite able to meet the criteria demands of the mainstream mortgage market have access to competitively-priced mortgages via Foundation.
“These rate reductions come as part of a set of exciting changes that Foundation is making throughout January, including significant improvements to the adviser experience as well as our product proposition. We’ll be announcing further news in this area shortly, so watch this space.”
