Recent bank rate cut and swap rate dip have enabled lenders to reprice
Several UK specialist lenders – Foundation Home Loans, Shawbrook Bank, and Keystone Property Finance – have announced rate cuts across their mortgage product ranges.
Foundation Home Loans, under its ‘Residential by Foundation’ brand, introduced reductions of up to 50 basis points (bps) on its core products. The lender also reintroduced offerings at 65% loan-to-value (LTV) and launched new green mortgage options.
The revised rates now start at 5.54% for F1 and F2 products aimed at borrowers with minor credit issues. Additionally, the lender has expanded its product range with new fixed-rate products for key workers, professionals, and those looking to improve or maintain energy efficiency in their homes. Rates on green mortgages, available up to 85% LTV, start at 5.59% and include a £595 fee with a free valuation.
“The recent cut to bank base rate and some notable dips in swap rates have paved the way for some sizeable shifts in pricing,” said Tom Jacob (pictured left), director of product and marketing at Foundation Home Loans. “We’re pleased to be able to announce these significant cuts to our core residential range, as well as the reintroduction, and launch, of products for specialist residential borrowers.”
Shawbrook Bank has also announced pricing reductions, cutting rates by 30bps across several of its buy-to-let and commercial products.
The bank’s digital buy-to-let products, which leverage advanced digital tools to expedite mortgage processing, now start at 5.69%. Shawbrook also reduced rates on its complex buy-to-let, commercial, and semi-commercial mortgage offerings, providing short-term financial solutions for investors navigating a fluctuating interest rate environment.
“These rate reductions reflect our commitment to empowering professional investors with competitive pricing and a range of specialist finance solutions that can deliver their property ambitions through the cycle,” said Daryl Norkett (pictured centre), director of real estate proposition at Shawbrook. “We are dedicated to helping investors navigate the market with confidence, whether they are pursuing short-term opportunities or long-term growth in their property portfolios.”
Meanwhile, Keystone Property Finance has implemented rate cuts of up to 15bps across its product lineup.
The reductions apply to several categories, including standard and specialist two-year fixed rates, with the latter now starting at 4.19%. Keystone’s expat and holiday let ranges also saw modest decreases, alongside reductions in product transfer and Switch & Fix offerings.
“We've made a promise to act quickly when conditions allow, and we’re proud to keep that promise,” said Elise Coole (pictured right), managing director of Keystone Property Finance. “These rate cuts ensure Keystone remains highly competitive in the specialist mortgage market, offering a range that stands strong against anything else out there.”
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