Under its Solutions by Foundation brand, which caters to more specialised buy-to-let needs, Foundation has also announced price cuts.

These include 10bps cuts to Large HMO and HMO Plus rates, with new rates starting at 6.49% and 6.34% respectively, up to 75% LTV with a 2% fee. Multi-unit freehold block (MUFB) rates have been reduced by 20bps, starting at 6.24% up to 75% LTV with a 2% fee. Expat products have seen reductions of up to 15bps, with rates starting at 6.64% up to 75% LTV and a 2% fee.

“Landlords continue to seek higher rental yield and are increasingly drawn to higher-yielding properties like HMOs and MUFBs,” said Tom Jacob (pictured left), director of product and marketing at Foundation Home Loans. “With these cuts, landlord borrowers should find an easing of affordability, allowing them to either add to portfolios or refinance existing properties.”

Meanwhile, TML has announced rate reductions across its five-year fixed 75% LTV buy-to-let products.