Foundation Home Loans reduce rates across BTL product range

Jessica Nangle

February 7, 2020

Foundation Home Loans has made a series of rate reductions across a number of products in its core buy-to-let range.

The rate cuts cover both individual and limited company fixed-rate products for both single tenancy properties, as well as HMOs and short-term lets.

Some products are up to 20 basis points.

Key highlights include a rate reduction to Foundation’s 5-year fix at 75% LTV product for F1 borrowers from 3.24% down to 3.15%.

This product comes with a 2% fee.

There has also been reductions to the 2-year fixed rates for F1 borrowers, to 2.44% at 65% LTV and 2.59% at 75% LTV.

Rate cuts across all its short-term let products of between 10 to 15 basis points, now starting at 2.99%.

The rate cuts follow Foundation’s introduction of a number of buy-to-let criteria enhancements in January including a new ICR for basic-rate tax payers which reduced down from 145% of rental income to 125%.

Foundation also increased maximum loan sizes across its entire product range for both 65% and 75% LTV.

Jeff Knight, director of marketing at Foundation Home Loans, said: “We have become well known for providing solutions for portfolio landlords, particularly those financing a property via a limited company.

“The recent changes we have made, combined with these rate changes, will make us even more appealing to intermediaries and their clients.

“And we have also recently increased the size of our sales team, so it means we are well placed to continue our steep growth trajectory.”

Sign up to our daily email