Foundation Home Loans reduces residential and buy-to-let rates

Rates have reduced by between 40-50bps.

Related topics:  Mortgages,  Buy-to-let
Rozi Jones | Editor, Barcadia Media Limited
11th January 2024
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"In buy-to-let we’re very pleased to be able to offer a five-year fix below 5% and we have made further reductions across both two and five-year fixes"
- Tom Jacob, director of product and marketing at FHL

Foundation Home Loans has reduced rates on both its buy-to-let and owner-occupied special products.

In its residential specials range, F1 – for clients who fall just outside the mainstream – two and five-year fixed-rate fee assisted products have reduced by up to 40bps, with rates starting from 6.44% with a £795 fee.

F2 rates – for clients with credit blips within the last 24 months - have reduced by up to 40bps, with rates now starting from 6.54%.

In Foundation's buy-to-let range, F1 five-year fixed rate portfolio products have reduced by 45bps with rates now starting from 4.79% with a 6% fee.

F1 fee-assisted five-year fixed rate portfolio products have reduced by 50bps, now starting from 5.09% with a 5% fee.

F1 two and five-year standard products have also decreased by up to 50bps, with rates starting from 5.19% with a 3% fee.

In addition, F2 HMO two and five-year fixed rate products are down by up to 45bps, starting from 5.34% with a 3% fee.

Tom Jacob, director of product and marketing at Foundation Home Loans, said: “The market continues to move positively in favour of borrowers, and as a result, we’ve been able to reduce rates across a large number of specials, for both buy-to-let and owner-occupied clients.

“In buy-to-let we’re very pleased to be able to offer a five-year fix below 5% and we have made further reductions across both two and five-year fixes, within both our F1 and F2 tiers, and we’re sure these will provide further options to advisers with landlord clients.

“We’ve made similar reductions in our owner-occupied range, again for both F1 and F2 clients, so those clients who are not quite able to meet the criteria demands of the mainstream mortgage market have access to competitively-priced mortgages via Foundation.

“These rate reductions come as part of a set of exciting changes that Foundation is making throughout January, including significant improvements to the adviser experience as well as our product proposition. We’ll be announcing further news in this area shortly, so watch this space.”

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