"These rate cuts should come at a very good time for advisers and their clients seeking either remortgage or purchase finance."
In its F1 buy-to-let product range – for landlord borrowers with an almost clean credit history – it has cut its five-year rates on its 65% LTV product from 3.39% to 3.24%, and its 75% LTV product from 3.59% to 3.49%. Both products come with a 2% fee.
Foundation has also cut the rate of its large loan five-year 65% LTV buy-to-let product to 3.14% from 3.29%; this comes with a minimum loan size of £500k, and a maximum of £2m.
Foundation said the three products benefiting from the rate enhancements were some of the most popular in its buy-to-let range and would benefit those landlords looking to either remortgage or add to portfolios in order to take advantage of the stamp duty holiday.
The rate reductions follow the lender’s return last month to offering 80% LTV buy-to-let products – it currently has both a 4.29% two-year fixed rate and a 4.79% five-year fixed rate available.
Jeff Knight, director of marketing at Foundation Home Loans, said: “Pent-up demand from landlords post-lockdown has now evolved further with their unexpected access to the stamp duty holiday, and these rate cuts should come at a very good time for advisers and their clients seeking either remortgage or purchase finance.
“These three specific five-year products were already some of our ‘best sellers’ and we are very pleased to be able to reduce rates further in order to support the landlord community, particularly those who utilise limited companies in order to house their portfolio properties.
“We are seeing encouraging signs from the market, and as a lender we remain committed to helping as many landlords as possible to make the most of the opportunities that are currently available.”
