Foundation Home Loans has refreshed both of its core buy-to-let (BTL) and owner-occupied product ranges and has also launched its new remortgage-only BTL products, available with cashback. The new BTL remortgage-only products are available within Foundation’s F1 for clients with an almost clean credit history, and F2, for clients financing a more specialist property type or those with historical blips on their credit rating. Products included in the remortgage-only range cover F1 five-year fixed-rates, available at up to 80% LTV with rates starting at 7.29%. F2 five-year fixed rates are available up to 75% LTV with rates starting at 7.44%. The remortgage-only products come with a £1,295 fixed fee, a free standard valuation, no application fee and £500 cashback.

Spicerhaart has appointed two of its directors to take over the helm as joint chief executive officers. National operations director, John Phillips, and group managing director Antony Lark, will be start their new roles with immediate effect. The pair will be supported in their new roles by owner and current CEO, Paul Smith, who is moving to become the company’s executive chairman. Smith founded the business with his father in 1989 and has created a property services business with a £140m turnover. Phillips is responsible for Just Mortgages, which he has grown from 100 brokers to 650 since he joined in 2015, having previously spent 23 years with Kinleigh Folkard and Hayward. Lark joined Spicerhaart in 2013 as Just Mortgages’ managing director, having previously worked with Countrywide for 17 years.

TSB has made further cuts to its residential product range, with basis points falling by 10bps, having made cuts just last week. The high street lender has said that it will reduce its two-year fixed rate house purchase and remortgage loans up to 75% LTV by 0.1%. It will also cut rates on its three-year fixed rate mortgage lending up to 75% by 10bps. TSB has said that the reductions are in response to two and five-year swap rates also falling recently. Other lenders, including Halifax, Nationwide and NatWest, have all recently made cuts to their mortgage products as the BoE continues to battle inflation, as it fell from 7.9% in June to 6.8% in July, remaining almost three-and-a half times higher than its 2% target.

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