"Large numbers of landlord borrowers will be coming up for renewal throughout the months ahead, plus we’re seeing growing purchase activity as rates fall lower."
- Tom Jacob, Foundation Home Loans
Foundation Home Loans has reduced rates on a number of buy-to-let limited edition products and launched a new limited edition five-year fix.
The limited edition products are within Foundation’s F1 range – for landlord borrowers with an almost clean credit history – and cover a range of fixed-rate terms at 75% LTV.
A two-year fixed rate has decreased by 15bps to 6.59% with a fixed £1,495 fee.
A five-year fix has also reduced by 15bps to 6.24% with a 1% fee.
A seven-year fix has a new rate of 6.69%, after a rate cut of 30bps, also with a 1% fee.
Foundation has also launched a brand new limited edition five-year fixed-rate, available to 75% LTV, with a rate of 6.14% and a fixed fee of £2,995.
The rate cuts follow Foundation launching new Extra products earlier this week within its F2 buy-to-let range, covering more unusual properties and landlord borrower needs.
Tom Jacob, director of product and marketing at Foundation Home Loans, said: “We continue to look at how and where we can drop rates for landlord borrowers, and today we’re pleased to be dropping our pricing across three F1 limited edition fixed rates, plus we’ve launched a brand new five-year fix which comes with a fixed fee.
“All products are available up to 75% LTV and come with different fee structures in order to provide options for landlord clients and to help them meet affordability. Large numbers of landlord borrowers will be coming up for renewal throughout the months ahead, plus we’re seeing growing purchase activity as rates fall lower.
“At Foundation we are fully focused on the buy-to-let space and have excellent service levels to support advisers and their clients in this sector.”
