Foundation Home Loans has reduced rates across its BTL product range, and introduced new discounted options.
The lender has made rate reductions of up to 180 basis points for its current five-year green F1 and F2 product ranges — designed for properties with an EPC rating of C and above, including standard BTLs, HMOs, MUFBs and short-term lets.
The five-year fixed rates, which are available at up to 75% LTV, will now start at 6.44% with a 1.25% fee.
Foundation is also adding two new green two-year discount products to its range for both its F1 and F2 tiers, priced from 6.49%.
The new options offer a free valuation, no application fee, and no ERCs.
In addition, the lender has introduced new BTL discount products across its F1, F2, HMO, MUB and short-term lets ranges, which are available at up to 75% LTV for both individuals and limited company borrowers.
Rates for the new discount products start at 6.59% for F1 borrowers.
George Gee, managing director (commercial) at Foundation Home Loans, said: “We are pleased to be able to cut rates across a large number of our BTL products.
“At the same time, we wanted to open up ERC-free discount product options to both residential and landlord borrowers, which we know in the current rate environment will have an appeal particularly as they come with no ERCs — thus allowing clients to more easily review their finance options over a shorter time period.
“Overall, we believe these rate cuts, and the introduction of a variety of new discount products, means advisers and their specialist borrower clients have a greater array of product choice to meet their needs.”
