Foundation Home Loans’ BTL brand has cut rates across its core product range by up to 0.5%.
With immediate effect, product rates now start from 5.29%.
Rate cuts have been made across product options for the lender’s three core BTL tiers: F1, F2 and F3.
F1 is clients with an almost clean credit history, F2 is those with more specialist property needs and/or blips in their history and F3 is clients with more recent blips in their credit ratings.
For example, the F1 and F2 two and five-year fixed rate products have been reduced by up to 0.35%. They are now available from 5.29% with a 1.5% fee, on up to 80% LTV.
Elsewhere, the F2 HMO Limited Edition five-year fixed-rate is now available at 5.74% with a reduced £2,995 fee up to 75% LTV. The fee has been cut from £4,995.
The BTL Foundation has also made rate cuts to a range of other products including fee-assisted remortgage only, EPC Saver – which comes with one free EPC plus £1,000 cashback, HMO Fee Assisted and Short-Term Lets including Fee-Assisted options.
“It’s important advisers have access to the widest possible range of product solutions for their clients as each individual property/borrower need is different, and increasingly borrowers are seeking out specific property types which have a greater opportunity to make a higher yield,” said Tom Jacob, director of product and marketing at Foundation Home Loans.
“Overall, we believe this is a highly-competitive buy-to-let product range with a wide variety of options available to all kinds of landlord borrowers, and we are keen to work with advisers and their clients in order to find the right solutions, and to explore how we can support their advice propositions in this highly important sector.”
