Foundation announces BTL rate reductions

Foundation Home Loans has announced a wide range of buy-to-let (BTL) rate reductions across all its product tiers and property types.

The intermediary-only specialist lender revealed that the new offering will be available to both individuals and limited companies.
The products that have seen specific cuts include Foundation’s 80% LTV two-year fixed-rate which has been reduced by 20 basis points from 4.29% to 4.09%, and the lender’s HMO five-year fixes – reduced by 60 basis points for 75% LTV rates, down to 3.94% from 4.54% for properties with up to six occupants, and down to 4.04% from 4.64% for 75% LTV for larger HMOs with a maximum of eight bedrooms, as well as all multi-unit blocks to a maximum of 10 units.
Foundation has also extended all end dates to 31 January 2023 for two-year deals and 31 January 2026 for its five-year terms.
Foundation director of marketing, Jeff Knight, said: “Foundation is on course to achieve a record quarter for new business. Our sales team are receiving record levels of enquiries but we continue to provide a reliable service to intermediaries.

“We are building on this success with these rate reductions to our core range to ensure we support existing brokers further and support the growing number of new brokers we have recently onboarded too.”

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