"There are price cuts across our three product tiers, F1 through to F3, for more specialist property types and those with more recent blips on their credit rating"
- Tom Jacob, director of product and marketing at Foundation Home Loans
Buy to Let by Foundation, the core buy-to-let brand of Foundation Home Loans, has announced a full product range reprice with rate reductions of up to 30 basis points.
These price cuts cover a wide range of core products including:
• EPC Saver products which come with a free EPC Plus document detailing key information on the property, plus £1,000 cashback. Two and five-year fixed rates have reduced by 10bps and now start from 5.84% up to 75% LTV; available in the F1 range - for clients with an almost clean credit history.
• Fee-assisted five-year fixed rate remortgage products have reduced by up to 25bps, with rates now starting at 5.84% up to 75% LTV with a £1,295 fee and £500 cashback. Products are available in both F1 and F2 ranges - for those with some historical blips on their credit rating.
• HMO limited edition five-year fixed rates have reduced by 5bps, now starting from 5.69%, and come with a fixed £4,995 fee.
• Holiday let two and five-year fixed rates are down by up to 20bps, with rates now starting at 6.34% up to 70% LTV with a 2% fee.
The lender has also made cuts to other products in the core range including its F1 limited edition two-year fixed rate, its two-year discount, large portfolio, large loan, first-time landlord HMO, short-term let, and others.
Tom Jacob, director of product and marketing at Foundation Home Loans, said: “Last week we were able to announce a number of rate cuts across our special buy-to-let products and this time we have been able to review all our core range pricing, making cuts by up to 30 basis points across the widest range of mortgages.
“There are price cuts across our three product tiers, F1 through to F3, for more specialist property types and those with more recent blips on their credit rating, and in a number of niche areas such as our EPC Saver products which provide full and comprehensive EPC information for a landlord. Additionally, there are pricing improvements across the remortgage-only products, mortgages for those seeking larger loans, or those who are seeking to add to, or remortgage, properties within larger portfolios.
“Our focus is always on both price competitiveness but also ensuring we have the widest range of specialist products for those landlord and property niches that many borrowers are now fully engaged with, and who require specific mortgage criteria depending on their needs and circumstances.
“This is a full core product review with multiple changes across multiple products, so we would urge advisers to look at the new product guide for full details, engage with our sales team representatives, and to speak to us about how we can best support the needs of their landlord borrowers.”
