"We know that meeting affordability remains a significant challenge for advisers and their clients, and our focus on rate cuts and fixed fees is designed to help in this regard."
Foundation Home Loans has reduced mortgage rates by up to 0.70% across its core owner-occupied range and up to 0.35% across its buy-to-let range.
The residential refresh includes reductions of up to 0.70% across Foundation’s F1 and F2 variable rate products, now starting at 5.99%; and reductions to F1 Green – for those borrowers with a property EPC of level C and above – with two and five-year fixed rates starting at 6.24% with a flat fee of £995 and free valuation.
Foundation has also made rate cuts to its two and five-year professional mortgages – for eligible borrowers working in a number of professions eligible to borrow up to six times income from Foundation – with rates starting at 6.34%, a £1,495 fee and free valuation.
It has also reduced products in its F3 and F4 credit tiers, with rates now starting from 6.99% with a £995 fee.
In its core buy-to-let range, Foundation has introduced a number of rate reductions across both its F1 and F2 products, including a new F1 65% LTV five-year fixed-rate with a rate of 5.74% and a £3,995 fee, for large loans (£200k - £2m).
It has also cut rates on its green buy-to-let five-year fixes, which now start at 5.89% and come with a 1.25% fee, a free valuation, and no application fee.
The lender’s F2 five-year fixed-rate for standard HMOs is now at 6.19% with a £1,995 fee, and its short-term let products have been reduced by up to 0.35%, with rates starting at 6.29%.
George Gee, managing director at Foundation Home Loans, said: “We are very pleased to be announcing further rate cuts across both our core owner-occupied and buy-to-let product ranges today, which are available to borrowers right across our tiers, from F1 through to F4.
“In particular we would like to highlight those fee-assisted products which come with flat fees, and also benefit in some cases from no application fee and free valuations. We know that meeting affordability remains a significant challenge for advisers and their clients, and our focus on rate cuts and fixed fees is designed to help in this regard.
“There is a growing specialist borrower demographic, in both the owner-occupier and buy-to-let space, and we remain committed to lending in these sectors and to ensuring advisers have access to a wide range of product choice including options for those with complex incomes, but also in terms of Green mortgage availability, products for Professionals, and a range of others.
“Our current service levels are extremely fast and we’re here to support advisers as they seek to find the right solutions for their clients.”
