Two specialist lenders — Foundation Home Loans and Investec Bank — have lowered rates across their BTL product ranges.
Foundation Home Loans has reduced pricing for its BTL specials suite.
The changes apply to its two- and five-year fixed-rate products within the F1 range, which are now available from 5.19% with a 3% fee.
In addition, its F1 five-year fix for portfolio clients with an almost clean credit history is now available from 4.79% with a 6% fee, while the F1 fee-assisted five-year fix now starts from 5.09% with a 5% fee.
The lender has also cut rates across its F2 two- and five-year fixed-rate HMO options — rates for these products now start from 5.34% with a 3% fee.
Tom Jacob, director of product and marketing at Foundation Home Loans, said: “The market continues to move positively in favour of borrowers, and as a result, we’ve been able to reduce rates across a large number of specials, for both BTL and owner-occupied clients.
“These rate reductions come as part of a set of exciting changes that Foundation is making throughout January, including significant improvements to the adviser experience as well as our product proposition — we’ll be announcing further news in this area shortly, so watch this space.”
Invested Bank has announced rate reductions of up to 54 bps across its entire range of BTL products.
Following the change, its two- and five-year fixed-rate options are now priced at 5.79% and 5.51%, respectively.
Peter Izard, head of intermediary business development at Investec Bank, said: “As the interest rate picture improves, we are delighted to continue to pass on reduced pricing over our entire fixed-rate product range.
“As a leading provider of finance to the high net worth market, we know that these individuals have complex lending needs and so we have designed into our offer the choice and flexibility they require.”
