Foundation Home Loans has cut the product fees on three of its “limited edition” limited company buy-to-let (BTL) products.

The intermediary-only specialist lender confirmed its F1 two-year fixed rate at 2.99%, as well as its F2 HMO two-year fixed-rate at 3.34% – both up to 75% LTV – now have 0.75% product fees, which formerly sat at 1%.

The lender’s F1 five-year fixed rate at 3.24%, up to 75% LTV, also now comes with 1% product fees, which was formerly 1.5%.

Foundation suggested these new fees represent up to 1.25% off the lender’s standard BTL product fees and all three products are available for loan amounts between £200,000 and £1m. The lender revealed that it will welcome portfolio landlords and has no limit to the background portfolio size for each borrower, subject to a maximum of £3m.

“Cutting the fees on the products allows us to provide an ultra-competitive limited company offering to those landlord borrowers utilising these vehicles to either purchase or remortgage,” commented Foundation commercial director, George Gee.

“We’re acutely aware that landlords want to keep such costs as low as possible and coupled with the compelling rates and criteria – particularly around loan size, background portfolio and ICR – we believe we are offering an excellent range of options to these borrowers.

“We continue to look at all aspects of our proposition to ensure it is tailored to adviser and landlord client needs and would urge all those active in this sector to speak with us to see how we can support their advisory services.”

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