Foundation Home Loans has announced rate reductions of up to 0.85% on its core owner-occupier product range and 0.60% on its core buy-to-let product range.
In the owner-occupier range, Foundation has cut rates by up to 0.85% across its F1 tier – for clients just missing out on the mainstream – and by up to 0.65% across its F2, F3 and F4 tiers. Rates now start from 6.94% up to 65% LTV.
The lender has also extended its owner occupier 85% LTV tier to include F1 Green and F1 Professionals products and a new 80% LTV tier has been added to its F2 product range. Fees have also been reduced on the F1 Green and F1 Professionals products to £795 and £995 respectively.
In the buy-to-let range, two-year fixed rate products have been reintroduced for large HMOs and short term lets, both with a 1% fee.
The two-year fixed rate large HMO product has a rate of 7.84% and the two-year fixed rate short term let product has a rate of 7.94%, both are available up to 75% LTV.
Foundation has also introduced price reductions across its entire core BTL product range by up to 0.60%. Fixed rates now start from 6.84% up to 65% LTV with discounted rates starting from 7.09% up to 75% LTV.
Foundation Home Loans director of product and marketing Tom Jacob says: “We hope the additional products introduced to our owner occupier range will give our intermediary partners and their clients more options when looking for a specialist solution.”
