Rate cuts target portfolio landlords, HMOs, and specialist property borrowers
Foundation Home Loans, through its buy-to-let brand Buy to Let by Foundation, has reduced rates by up to 30 basis points (bps) across several of its Fixed Rate Specials.
The updated pricing, effective today, December 12, applies to products in both the F1 tier, catering to borrowers with almost clean credit history, and the F2 tier, aimed at those financing specialist property types.
The changes include reductions on five-year fixed rates for F1 portfolio landlords, now starting at 4.89% with a 6% fee, and a fee-assisted option starting at 5.09% with a 5% fee, both available up to 75% loan-to-value (LTV). For two-year fixed rates in the F1 tier, pricing has been reduced to 4.49% with a 4% fee, up to 75% LTV.
In the F2 tier, five-year fixed rates for houses in multiple occupation (HMO) and multi-unit freehold block (MUFB) borrowers have been cut, with rates starting at 4.99% and 5.09% respectively, both with a 3% fee and up to 75% LTV.
The latest rate adjustment from Foundation follows the recent launch of a limited edition F1 five-year fixed rate product. The limited edition offers a 5.94% rate up to 75% LTV with a 1% fee, free standard valuation, and no application fee.
“As the market shifts, we are able to announce rate cuts across a range of buy-to-let specials with reductions of up to 30 basis points available for portfolio landlords, HMO and MUFB borrowers, and a specific two-year, fixed-rate product cut, bringing the price down to 4.49% for 65% LTV with a 4% fee,” said Tom Jacob (pictured), director of product and marketing at Foundation Home Loans.
“Our range, pricing and criteria is tailored to an array of landlord borrowers and property types, and these specials cover a wide variety of needs and circumstances, whether standard buy-to-let finance or more niche areas such as HMOs and MUFBs.”
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