The BTL brand of Foundation Home Loans has refreshed its core and special BTL products by lowering rates for several products.
Within the core range, Foundation has cut pricing on its F1 five-year fixed-rate options — available for clients with an almost clean credit history — by up to 50 bps, with rates starting from 5.74%.
Pricing for the lender’s F2 core products for borrowers with historical blips on their credit rating has also been lowered, with rates starting from 5.94% for standard five-year fixes and from 6.29% for standard HMO five-year fixes.
In its specials range, Foundation has reintroduced its portfolio-landlord-only five-year fixed rate, available at up to 75% LTV, with rates starting from 4.99% — the product comes with a 6% fee.
It has also reduced rates on its F1 standard special two-year fixes by 15bps, with pricing now starting from 5.34%.
In addition, the F2 HMO special two- and five-year fixes have been lowered by 15 bps, and are now priced from 5.39%.
Tom Jacob, director of product and marketing at Foundation Home Loans, said: “These BTL changes, plus the reductions to our residential special fee-assisted products, provide advisers with options for clients who are just outside the mainstream or have some historical credit blips, with access to a range of highly-competitive mortgages that match their needs.
“The specialist mortgage market is increasingly important in today’s economy, and the lower rates we are now offering should help borrowers meet their affordability criteria and secure the level of loans they require.
“Our three Foundation brands have a growing number and breadth of product options and, as a lender, we have the expertise in this area to be able to help our intermediary partners secure the positive outcomes required for their clients.”
