Foundation Home Loans has announced several price reductions on its owner-occupier and buy-to-let (BTL) mortgage products.

The specialist lender confirmed that in its owner-occupier range, it has cut rates on its fixed rate specials by 90 basis points (bps) across both its F1 – for clients just missing out on the mainstream – and F2 – for clients with recent credit blips – tiers.

Foundation’s new two and five-year residential fixed rates start from 6.49% and 6.59% respectively, with products available up to 75% loan-to-value (LTV). All owner-occupier products come with a fixed £1,495 fee and are available up to a maximum loan of £1m.

For its BTL offering, the lender has introduced specific price reductions on its two and five-year fixed-rate specials for both 65% and 75% LTV. Foundation’s F1 products have been reduced by up to 85 bps, F2 by 80 bps, and F2 HMO by up to 90bps. BTL fixed rates now start at 5.89%.

Managing director (commercial) at Foundation Home Loans, George Gee, commented: “This is all about ensuring we have a quality product offering for advisers and their specialist clients, but also highlighting our very positive service levels at present, which should allow intermediaries to work quickly on behalf of borrowers and secure the mortgage finance they require.

“It has been a positive start to the year, and Foundation remains fully committed to helping advisers deliver the right solutions for their clients, and to making the process as simple, effective and fast as we possibly can.

“We are here to support the adviser community and would urge firms to utilise our excellent sales and BDM teams so we can help them deliver positive outcomes for all their specialist clients.”

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