Foundation has today announced a broad set of rate reductions and new products across its specialist buy to let range, with cuts by up to 30 basis points (bps) now live.
The changes apply to a large proportion of Foundation’s specialist buy to let offering covering Standard and Large HMOs, plus MUFBs, which have seen rates cut by up to 30 bps, and now start at 4.24%.
The lender has also introduced new two- and five-year, fixed-rate, 3% fee products at 65%, 75% and 80% LTV for both Standard HMO and MUFB properties.
Short Term Lets and Holiday Let products have also seen rates reduced by up to 15 bps, with rates starting at 5.99%.
Rates on two F3 products – for clients with more recent credit blips – have also been cut by 30 bps, with both the two- and five-year fixed-rate (with a 2% fee) now available at 6.54% and 6.34% respectively.
Foundation has also introduced two new fixed-rate products for Expat borrowers. Both are for F1 borrowers - for clients with an almost clean credit history – with both 65% and 75% LTV options, and rates starting at 4.39% for two-years (3% fee) and 5.09% for five-years (4% fee).
Rates have also been cut on the lender’s Property Plus, HMO Plus, STL Plus, MPOTs, Mixed Use and Mixed Use Expat products.
All of these changes are now reflected in Foundation’s updated buy to let product guide, which provides full details across standard and specialist products.
The rate cuts and new products follow a full rebrand of the lender which was introduced last month.
Foundation said the change to the new brand identity reflected a clear step forward for the business as it continues to support brokers with complex buy to let and residential cases.
Grant Hendry, Director of Sales at Foundation, added:
“Specialist buy to let remains a core focus for us and these latest rate cuts underline our commitment to supporting brokers across a wide range of cases. By reducing pricing across many of our specialist products, we’re reinforcing both the breadth of our range and our reliability as a lending partner in a market where brokers and their clients need options they can trust.
“Our proposition is built around flexibility. From HMOs and MUFBs to Short Term Lets, Holiday Lets and Mixed Use, we aim to give brokers products that work for real-world scenarios. This combination of lower rates and new fixed rate options at different LTVs gives brokers more control when placing business for their landlord clients.
“We’ve also maintained a strong focus on borrowers who are often underserved. Making improvements in these areas reflects our day-to-day experience of broker demand and our view that specialist lending should remain accessible, consistent and well-priced.
“These changes come at a time when brokers value certainty from their lenders. Alongside our refreshed brand, this announcement reinforces what brokers can expect from Foundation. A wide product range, dependable lending decisions and the flexibility to support specialist buy to let cases with confidence.”
