It reduces rates by up to 35bps
Specialist lender Foundation Home Loans has refreshed its buy-to-let and owner-occupier special product range, making rate reductions of up to 35 basis points.
For buy-to-let, the intermediary-only lender has slashed its five-year fixed rate F1 portfolio landlord special by 0.35%, now with a headline rate of 6.09%, a 4% fee, and is available up to 75% loan-to-value (LTV). The rate on the two-year fixed rate F1 portfolio landlord special has been cut by 0.25%, and now starts at 6.44% with a 2.5% fee and is also available up to 75% LTV.
Foundation’s F1 BTL fixed rate specials have also seen a reduction of 0.20% and now start at 6.79%. Rates on the F2 BTL fixed rate specials have been cut by 0.10%, now starting at 6.94%, while the fixed rate F2 HMO specials have been lowered by 0.05% and now start at 7.04%.
On the lender’s owner-occupier specials product range, rates have been cut by up to 0.25% on Foundation’s F1 and F2 fixed rate specials over two and five years. F1 fixed rate specials now start from 6.84% and F2 fixed rate specials now start from 6.99%.
“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 BTL sector going forward,” Tom Jacob (pictured), director of product and marketing at Foundation Home Loans, stated in an article announcing the product refresh.
“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 BTL sector.”
Want to be regularly updated with mortgage news and features? Get exclusive interviews, breaking news, and industry events in your inbox – subscribe to our FREE daily newsletter. You can also follow us on Facebook, Twitter, and LinkedIn.
