Foundation Home Loans lowers BTL rates and launches new discount products

The lender has made rate reductions of up to 180 basis points for its current five-year green F1 and F2 product ranges — designed for properties with an EPC rating of C and above, including standard BTLs, HMOs, MUFBs and short-term lets.

The five-year fixed rates, which are available at up to 75% LTV, will now start at 6.44% with a 1.25% fee.

Foundation is also adding two new green two-year discount products to its range for both its F1 and F2 tiers, priced from 6.49%.

The new options offer a free valuation, no application fee, and no ERCs.

In addition, the lender has introduced new BTL discount products across its F1, F2, HMO, MUB and short-term lets ranges, which are available at up to 75% LTV for both individuals and limited company borrowers. 

Rates for the new discount products start at 6.59% for F1 borrowers. 

George Gee, managing director (commercial) at Foundation Home Loans, said: “We are pleased to be able to cut rates across a large number of our BTL products.

“At the same time, we wanted to open up ERC-free discount product options to both residential and landlord borrowers, which we know in the current rate environment will have an appeal particularly as they come with no ERCs — thus allowing clients to more easily review their finance options over a shorter time period. 

“Overall, we believe these rate cuts, and the introduction of a variety of new discount products, means advisers and their specialist borrower clients have a greater array of product choice to meet their needs.”