Foundation Home Loans cuts rates

Michael Lloyd

November 13, 2019

Jeff Knight Foundation Home Loans

Specialist lender Foundation Home Loans has reduced rates across its range of 2-year buy-to-let fixed rate products.

For individual borrowers and limited company applicants, there are two 2-year fixed rates at 75% LTV.

One offering has seen its rate drop from 3.05% to 2.69%, whilst their HMO deal is now available from 2.89%.

Jeff Knight (pictured), director of marketing at Foundation Home Loans, said: “To be able to announce price cuts of up to 0.45% is a significant move.

“It gives greater choice for landlords, especially HMO clients as the ICR is highly competitive in this market at only 145% at 5.5%.

“We’ve seen a growing appetite for 2-year products in recent months from landlord borrowers looking for rate security alongside some freedom to be flexible after 2022.”

The lender has reduced the rate for its large HMO and multi-unit 2-year fix products at 75% LTV, which is now available at 2.99%.

All 2-year products have fees of 2%.

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