Foundation Home Loans has launched new specialist buy-to-let products for large HMOs and short-term lets, alongside rate reductions across parts of its existing range.
The intermediary-only lender has introduced large HMO products including a 2-year fixed-rate at 5.29% with a 3% fee and a 5-year fixed-rate at 5.99% with a 4% fee.
Short-term let products include a 2-year fix at 5.19% with a 3% fee and a 5-year fix at 5.89% with a 4% fee, targeting landlords seeking higher-yielding opportunities.
Foundation has also cut rates across several buy-to-let products. Its standard HMO 2-year fix has been reduced by 0.25% to 4.99%, while the 5-year fix has been cut by 0.10% to 5.69%.
MUFB products have also seen reductions, with the 2-year fix lowered to 5.09% and the 5-year fix to 5.79%.
Within its standard buy-to-let range for F1 borrowers, the lender has cut its 2-year fix to 4.89% and its 5-year fix to 5.59%.
It has also reintroduced its F1 first-time buyer and first-time landlord product, offering a 5-year fix at 6.54% with a 1.5% fee to support new entrants into the landlord market.
Grant Hendry, director of sales at Foundation, said: “With markets continuing to ease over the past few days, we’re maintaining our ongoing commitment to cutting rates where possible, and also launching new products specifically across higher-yielding property types, such as Large HMOs and Short Term Lets.
“Landlord borrowers continue to seek product options for these types of properties as they look for improved yield, so we’re pleased to be able to offer both 2- and 5-year fixed-rate options.
“At the same time, we’re able to introduce our product specifically for new landlords who are just starting out on their investment journey and who don’t own a property.
“We try not to forget that while established landlords make up the bulk of the market, there are those who need finance in order to begin investment, and this product is designed to do this.
“Following the changes we introduced last week, we believe we’re continuing to offer a variety of options to help brokers and their landlord clients.
“We’ll continue to monitor the market situation and act both appropriately and responsibly, while maintaining the depth and breadth of our overall buy-to-let offering.”