Buy to Let by Foundation, the buy-to-let (BTL) brand of Foundation Home Loans, has refreshed both its core and special products, with the introduction of a 4.99% 5-year fixed-rate mortgage for portfolio landlords.
Within the core range, Foundation reduced rates on its F1 – for portfolio and non-portfolio landlords with an almost clean credit history – 5-year fixed rates by up to 0.50%, with rates starting from 5.74%.
It also reduced rates on its F2 – for those with some historical blips on their credit rating – standard 5-year fixes by 0.45%, with rates starting from 5.94%, and its F2 standard house in multiple occupation (HMO) 5-year fixes by 0.20%, with rates starting from 6.29%.
In its specials range, the lender reintroduced its Portfolio Landlord Only 5-year fixed rate, available up to 75% loan-to-value (LTV), with rates starting from 4.99%. The product comes with a 6% fee.
Foundation reduced rates on its F1 standard special 2-year fixed rates by 0.15%, with rates starting from 5.34%, and reduced rates on its F2 HMO special 2-year and 5-year fixes also by 0.15%, with rates starting from 5.39%.
The lender’s residential brand, Residential by Foundation, also announced 0.10% cuts to both its F1 and F2 Special Fee-Assisted 2- and 5-year fixes, with rates now starting from 6.44%.
Tom Jacob (pictured), director of product and marketing at Foundation Home Loans, said: “These BTL changes, plus the reductions to our Residential Special Fee-Assisted products, provide advisers with options for clients who are just outside the mainstream or have some historical credit blips, with access to a range of highly-competitive mortgages that match their needs.
“The specialist mortgage market is increasingly important in today’s economy, and the lower rates we are now offering should help borrowers meet their affordability criteria and secure the level of loans they require.
“Our three Foundation brands have a growing number and breadth of product options and, as a lender, we have the expertise in this area to be able to help our intermediary partners secure the positive outcomes required for their clients.”
