Foundation Home Loans is introducing rate reductions of up to 0.70% across its core owner-occupied range and up to 0.35% across its core buy-to-let range.
The owner-occupied products 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 one free valuation.
The specialist lender is also making rate cuts to its two- and five-year professionals 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 flat fee of £1,495 and one free valuation.
Foundation is also reducing products in its F3 and F4 credit tiers, with rates now starting from 6.99% with a flat £995 fee.
In its core buy-to-let range, Foundation is introducing 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 flat fee of £3,995, for large loans (£200k – £2m).
It has also cut rates on its Green buy-to-let five-year fixes, which come with a 1.25% fee, a free valuation, and no application fee, and rates starting at 5.89%.
The lender’s F2 five-year fixed-rate for standard HMOs is now at 6.19% with a fixed fee of £1,995, and its short-term let products have been reduced by up to 0.35%, with rates starting at 6.29%.
Foundation Home Loans managing director George Gee comments: “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”.
