Both Buy-to-let and Residential by Foundation have introduced a number of rate cuts, while its buy-to-let (BTL) arm has also launched limited edition products.
Buy to Let by Foundation launched two products for F1 borrowers – for clients with an almost clean credit history – offering a limited edition 5-year fixed-rate product, available up to 75% loan-to-value (LTV), with a rate of 5.44%, and a fixed fee of £4,995.
This product has a minimum loan size of £200,000.
The lender also launched F1 2-year fixed-rate specials, priced at 4.79% up to 65% LTV and 4.99% up to 75% LTV. Both products come with a 4% fee.
Foundation also cut rates on its F1 5-year, special portfolio landlord-only products by 0.10%, with rates now starting from 4.89%, with a 6% fee; plus it has cut its 5% fee, F1 5-year, special portfolio landlord-only products also by 0.10%, with rates now starting from 5.09% – these products come with no application fee and a free valuation.
Residential by Foundation cut rates on both its F1 – for those borrowers who just miss out on the mainstream due to historical credit blips – and F2 – for borrowers who have recent credit blips – 2-year, fee-assisted fixed-rates.
The F1 and F2 products have been reduced by 0.10% with rates now starting at 6.79% for F1 and 6.89% for F2, both for 65% LTV, with a £795 fee.
Tom Jacob (pictured), director of product and marketing at Foundation Home Loans, said: “We are continuing to review our product offering across all of our lending brands, and are pleased to be offering these new 2- and 5-year buy-to-let options in our core range, both available up to 75% LTV, with differing fee structures.
“At the same time we can also cut pricing on our 5-year fixes for portfolio landlords, plus are able to cut rates for both F1 and F2 specialist residential borrowers.
“We are now offering highly competitive rates for landlord borrowers who have an almost clean credit history with selective 2-year and 5-year fixes now below 5%, depending on the type of landlord borrower.”
He added: “It’s important we continue to offer a wide range of product options to borrowers with different needs and circumstances.
“We’ll continue to review our offering and to ensure advisers have a strong depth of product options available to be able to support their specialist clients, whether landlords or owner-occupiers.”
