Foundation Home Loans reduces BTL rates by up to 60bps

Two-year fixed-rate products have been reintroduced for large HMOs and short-term lets, both with a 1% fee.

The large HMO product has a rate of 7.84% while the short-term let product is fixed at 7.94%, with both available up to 75% LTV.

For the rest of the lender's core BTL range, fixed rates now start from 6.84% up to 65% LTV with discounted rates starting from 7.09% up to 75% LTV.

Tom Jacob, director of product and marketing at Foundation Home Loans, commented: “This repricing across our BTL product ranges represents a highly positive move in what has been a testing time for a variety of borrowers.”