It also launches a new limited edition five-year fixed rate
Specialist lender Foundation Home Loans has made further rate cuts of up to 30 basis points (bps) on a number of its buy-to-let limited edition products.
Products that had its rates lowered were a 75% loan-to-value two-year fix with a £1,495 fee, now at 6.59% after a rate cut of 15bps; a 75% LTV five-year fix with a 1% fee, now at 6.24% after a rate cut of 15bps; and a 75% LTV seven-year fix with a 1% fee, now at 6.69% after a rate cut of 30bps.
The intermediary-only lender has also launched a new limited edition five-year fixed rate at 75% LTV, with a rate of 6.14% and a fixed fee of £2,995.
The limited edition products are within Foundation’s F1 range – for landlord borrowers with an almost clean credit history.
<iframe src="https://www.linkedin.com/embed/feed/update/urn:li:share:7133017657544466433" height="534" width="504" frameborder="0" allowfullscreen="" title="Embedded post"></iframe>
Foundation recently launched new Extra products within its F2 buy-to-let range, covering more unusual properties and landlord borrower needs.
“We continue to look at how and where we can drop rates for landlord borrowers,” said Tom Jacob (pictured), director of product and marketing at Foundation Home Loans. “Today, we’re pleased to be dropping our pricing across three F1 Limited Edition fixed rates, plus we’ve launched a brand new five-year fix which comes with a fixed fee.
“All products are available up to 75% LTV and come with different fee structures in order to provide options for landlord clients and to help them meet affordability. Large numbers of landlord borrowers will be coming up for renewal throughout the months ahead, plus we’re seeing growing purchase activity as rates fall lower.
“At Foundation, we are fully focused on the buy-to-let space and have excellent service levels to support advisers and their clients in this 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.
