Foundation enhances Holiday Let criteria and cuts BTL rates

Foundation has reduced rates up to 0.1% across selected BTL products and enhanced its Holiday Let product range.

Foundation’s BTL rates currently start at 4.99% at 75% LTV.

Both two-year and five-year F2 Holiday Let products have been reduced by 10bps, with rates now starting at 6.64% at 75% LTV.

The reduction supports a significant update to Foundation’s Holiday Let criteria, allowing property owners to reside in their properties for up to 60 days per annum.

It follows enhancements made by the lender just last week across both BTL and residential ranges, including two new limited edition remortgage-only products.

Grant Hendry, director of sales at Foundation (pictured above), said: “Following our announcement just last week, we are pleased to announce further enhancements across our range, including rate reductions and a really exciting upgrade to our Holiday Let criteria.

“These enhancements further demonstrate our commitment to make positive changes to our products as soon as the opportunity presents itself.”