Foundation Home Loans’ specialist residential mortgage brand, Residential by Foundation, has introduced a series of new products and rate reductions across its various mortgage ranges.

New products include a five-year fixed rate limited edition mortgage for owner-occupiers who require extra flexibility or do not fully meet mainstream criteria. This mortgage is offered up to 80% loan-to-value (LTV), featuring a 5.99% interest rate, a maximum loan amount of £750,000, and a fixed application fee of £1,295.

In addition, the lender has decreased interest rates in its special fee-assisted F1 and F2 mortgage products. F1 mortgages, aimed at borrowers with minor credit issues in the last 24 months, have seen a rate reduction of 20 basis points (bps), now starting at 6.24%. Similarly, F2 products, for those with more recent credit challenges, now start at 6.34%, also reflecting a 20bps cut.