Foundation Home Loans has announced it is cutting rates across several products within both its residential and buy-to-let (BTL) ranges.

The intermediary-only specialist lender has cut rates by up to 50 basis points on both its residential two and five-year fixed rate mortgages, and has also cut rates on its two and five-year BTL fixed-rate mortgages.

Foundation said its residential range is designed to meet the needs of borrowers with complex income or employment.

This includes the recently self-employed as well as those looking to optimise their affordability by using up to 100% of a wide range of income types including 100% of bonus, overtime and/or commission, retirement and investment incomes.
 
The lender accepts retained profits and one year’s accounts for the self-employed, and it caters for borrowers with multiple, or unusual, income sources including the more recently self-employed, and employed clients with high commissions or bonuses.

Foundation commercial director, George Gee, said: “In the residential range particularly, this is an opportunity for advisers who are seeing an increasing number of clients with complex income or multiple income sources, and the self-employed who may have only one-year accounts, to find competitively-priced mortgages combined with flexible criteria.

“Landlord borrowers will also benefit from cuts to various products including our remortgage specials, our early remortgage offering, and those seeking large loans.”

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