Foundation Home Loans has made rate reductions of up to 75bps on selected BTL specials and 60bps on owner-occupier specials.
The specialist lender’s two-year fixed-rate HMO has been cut by 75bps to bring it in line with its F2 BTL offering.
Foundation has also lowered the rates across its two- and five-year fixed-rate BTL specials.
At 65% LTV for F1 — those with almost clean credit history — and 75% for F2 — those with some adverse credit history or looking for a specialist property type — fixed-rate BTL specials have been slashed by up to 0.70%.
Standard BTL fixed rates now start from 5.29%, while HMO specials start from 5.34%.
These products are available to individuals and limited borrowers across F1, F2 and ‘standard’ HMO product ranges and come with a 1-2% product fee.
Loans are available up to £1m.
In addition, the company has introduced a new limited edition BTL five-year fixed-rate BTL product at 5.39% with a flat fee of £4,995, available up to 75% LTV with a maximum loan of £1.5m.
Fixed rates on owner-occupier specials have been cut by up to 55bps across its F1 tier and by up to 60bps across its F2 range, with rates now starting from 5.89% up to 65% LTV.
George Gee, managing director of commercial at Foundation Home Loans, said: “We are pleased to be able to offer some significant rate reductions across our BTL and owner-occupier product ranges, reflecting some increased economic stability and growing demand across these markets as we move into Q2.
“HMO mortgage products within the BTL market continue to capture the attention of landlords as they look to add to and diversify their portfolios while looking to maximise yields.
“This brings our HMO specials in line with our F2 fixed-rate BTL specials, in recognition of the increased market demand, and represents a highly positive move for those landlords who are active in this area of the market.”
