Foundation Home Loans has made several price reductions across its owner-occupier specialist products and introduced new owner-occupier five-year fixed-rates.
 
The lender confirmed that its special product rates for owner-occupiers have been reduced by up to 10 basis points (bps) while fees have been reduced by £500 to £995.

Foundation has also launched two new special fee-assisted products, for clients just missing out on the mainstream, and for those with recent credit blips within the last two years. This offering includes five-year fixed products, available up to 65% loan-to value (LTV), with a reduced fee of £795, one standard valuation and no application fee. Rates on this offering start from 6.59%.
 
In its core owner-occupier range, Foundation is also introducing new two and five-year fixed green products for properties with an Energy Performance Certificate (EPC) rating of C and above.

“Much of these changes focus on our special and core owner-occupier products,” said managing director (commercial) at Foundation Home Loans, George Gee. “We believe this provides a greater array of choice, in particular for those existing homeowner borrowers seeking to remortgage and by dropping the fees on those products, it should also help them in terms of keeping those initial costs down.

“We have been keen to build back up with a broader owner-occupied offering, which is why we’re now offering new 80% LTV products for both F1 and Green F1 borrowers, plus we have the new five-year fixes within our core range. It’s recognition of our continued focus on choice, but also our commitment to the green agenda and ensuring we have a very strong proposition for borrowers with properties who meet the EPC criteria level.”

Foundation has also announced new changes to its buy-to-let (BTL) offering, with the specialist lender reducing selected special product rates and fees.

“For BTL, where possible, we’ve focused on bringing five-year fixed-rate pricing down, but we’ve also been able to cut fees on our two-year fixed-rate specials, in order to help landlord borrowers with those upfront costs,” Gee added.

“Overall, we believe these changes, coupled with the rest of our core range, provides both advisers and their specialist owner-occupier and buy-to-let clients with a greater array of choice to fit many different needs and circumstances, and we’re looking forward to working with advisers to help them find the solutions they need.”

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