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Foundation Home Loans cuts 5-year buy-to-let fix rates

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Foundation Home Loans has made a number of rate reductions across its 5-year fixed-rate mortgage range for landlord borrowers, and introduced a new 65% loan-to-value (LTV) Green Reward Remortgage.

The changes to pricing cover Foundation’s 75% LTV -year fix which is now at 3.24% reduced by 0.10% – which comes with a 2% fee.

Its ‘ERC-3’ product now fixed for five years at 3.59% (0.10%) with early repayment charges for the first three years only.

At 65% LTV 5-year fixes are dropped by 0.10% to 3.14% with a 2% fee,  the large loan option to 2.99% with a 2.25% fee and a maximum loan of £2m.

Early remortgage 75% LTV 5-year fix comes in at 3.39%, down from 3.49%, also with a 2% fee.

The lender has also cut the rate on its recently-launched five-year fix Green Reward Remortgage, down to 3.59% from 3.65% at 75% LTV and a maximum loan size of £1m, and introduced a new 65% LTV version of the product, available at 3.49%, allowing a larger maximum loan size of £1.5m.

Both come with £750 cashback on completion plus a reduced fee of 0.65% on the 65% LTV product and 0.75% on the 75% LTV product.

George Gee, commercial director at Foundation Home Loans, said: “These rate cuts to some of our most popular five-year fixes are designed to support advisers and their landlord clients, particularly if they are looking for a more generous loan amount; the cuts of 0.10% points make these even more competitive and will enhance our core range supporting those landlords looking to add to their portfolios or to remortgage to an excellent rate.

“On top of this, and as a direct result of the popularity of our new Green Reward Remortgage which supports those landlords improving their properties and their EPC rating, we have been able to cut the rate on our original 75% LTV rate, and introduce a new 65% LTV offering which comes with an improved maximum loan amount of £1.5m.

“As always, our aim here is to support those landlord borrowers who just miss out on mainstream credit scores and to support our adviser partners as they seek to grow their buy-to-let advice businesses.”


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