Foundation has launched limited-edition residential remortgage products and cut rates across its mortgage range.
The lender has introduced F1 residential deals for remortgaging borrowers who fall just outside mainstream criteria or require a more flexible underwriting approach up to 65% loan to value (LTV), available on both a two- and five-year fixed rate basis.
The two-year fix is priced at 6.09%, while the five-year is 6.24%. Both products come with a £595 fee, a free standard valuation and no application fee.
Alongside the launch, Foundation has made selected rate reductions across its wider residential range of 20 basis points (bps). The cuts apply to fixed rates for purchasers or remortgages, as well as remortgage-only deals with either cashback or fee-assisted legals, plus Foundation’s Key Worker, EPC Saver, and joint borrower sole proprietor (JBSP) product options.
The lender has also reduced pricing across almost all of its buy-to-let (BTL) range by up to 25bps, with pricing now starting at 5.14%.
Pricing has been cut across a number of F1, F2 and F3 BTL products, covering standard, houses in multiple occupation (HMOs), large HMOs, multi-unit freehold blocks (MUFBs), short-term let, holiday let, expats and Property Plus.
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Grant Hendry (pictured), director of sales at Foundation, said: “We’ve moved quickly to reflect the recent improvement in market conditions, reducing almost all our rates within both our residential and buy-to-let product ranges to ensure brokers and their clients can access strong and competitive pricing.”
Last month, Foundation enhanced its intermediary sales team by promoting David Galloway to the national accounts team and welcoming Imran Butt back as an internal business development manager (BDM).