Foundation Home Loans and Accord Mortgages have cut rates across their BTL product ranges.
Foundation Home Loans
Foundation Home Loans has refreshed several two-year fixed rates within its core BTL product range.
Its F1 two-year fixes have been cut by up to 35 bps, with rates now starting at 6.94% for its 65% LTV option with a 1.5% fee.
The lender also lowered rates by up to 35 bps across the two-year range within its F2 tier — available for borrowers financing more specialist properties and/or those with some historical blips on their credit rating — with pricing starting from 7.09%.
Meanwhile, the standard HMO F2 two-year fixed rates are now offered at 7.19% at up to 65% LTV (a 25 bps cut) and 7.29% at maximum 75% LTV (20 bps lower), both of which come with a 1.5% fee.
The two-year fixed-rate products within the short-term let range have also been repriced, and are now available at 7.34% up to 65% LTV and 7.44% — both products include a 1.5% fee.
In addition, the lender launched a new limited-edition, two-year fixed-rate BTL product within its F1 range, available at up to 70% LTV, and priced at 5.94% with a 3.5% fee.
Tom Jacob, director of product and marketing at Foundation, commented: “This is an important time of the year for many landlord borrowers, particularly those who are looking for refinance options in the current market.”
“These new and refreshed BTL products provide a further range of rate options.”
Accord Mortgages
Accord Mortgages is cutting rates across its BTL product range by up to 46 bps, effective from tomorrow (Wednesday 4th October).
Selected two-year product rates have been lowered by up to 46 bps, while pricing for the three-year and five-year options have been reduced by up to 16 bps and 35 bps, respectively.
All these products come with a £1,995 fee, free standard valuation, and £500 cashback.
Aidan Smith, BTL mortgage product manager at Accord, said: “We’re delighted to be able to once again seize a market opportunity to reduce rates across our BTL product range and support landlords managing amid the ongoing cost squeeze.”
