Foundation Home Loans’ BTL brand has launched new limited-edition products and a new fee-assisted remortgage option, as well as cut rates across several BTL products.
The first new limited-edition option is an F1 five-year fix for clients with an almost clean credit history, available up to 75% LTV.
It offers loans from £200,000 and is priced at 5.49%, with a fixed £4,495 fee.
The lender is also launching a new limited-edition F1 green five-year fix for properties with an EPC of A-C, also available up to 75% LTV with a rate of 5.39%, a fixed £4,495 fee, and a minimum loan size of £200,000.
The third new product is an F1 fee-assisted, remortgage-only five-year fix, which is priced at 5.99% at maximum 65% LTV, and 6.09% at maximum 75% LTV.
This product comes with a £1,295 fixed fee, no valuation or application fee to pay and offers £500 cashback to the borrower.
‘Buy to Let by Foundation’ has also reduced its existing F1, five-year fix limited-edition product by 15 bps, which is now available at 5.44% at up to 75% LTV with a 2.25% fee.
Further rate cuts have been made to the lender’s F2 short-term let two-year fixed rates for clients financing a more specialist property type.
Following a 10 bps rate cut, these products are now priced at 6.79% at up to 75% LTV.
The F2 holiday let two- and five-year fixes have also had rates reduced by up to 20 basis points, with pricing starting at 6.54%, up to 70% LTV.
Tom Jacob, director of product and marketing at Foundation Home Loans, said: “We’re very pleased to be announcing these new limited-edition products to our core range, plus we’ve been able to make some significant rate cuts to options for both short-term and holiday let landlords.
“Last week’s decision by the Bank of England to cut the base rate might well act as a catalyst for greater levels of activity in the PRS, and we know large numbers of borrowers are coming to the end of deals over the course of the next six months.
“Overall, we believe these new additions to the range, the price cuts, and our full BTL product offering give advisers a growing number of options to ensure positive outcomes for their landlord clients.”
