Foundation Home Loans has announced it is cutting rates to both its two and five-year fixed rates at higher LTVs.

The move, within the specialist lender’s residential range for borrowers with complex income or near-mainstream credit, sees fixed rates cut by 15 basis points at both 85% LTV and 90% LTV levels.

Foundation confirmed its two-year fixed rate at 85% LTV is now available at 3.84% and at 4.64% at 90% LTV. The five-year fixed rate at 85% LTV has been cut to 4.04%, while the 90% LTV offering is down to 4.84%.

“We want to support intermediaries with competitive pricing choices, particularly at a time when many areas of the marketplace are seeing rates increasing or being withdrawn, and mortgage choices appear to be reducing for self-employed owner-occupiers or borrowers with complex income,” commented Foundation’s commercial director, George Gee.

“We are therefore pleased to be able to introduce these residential price cuts of 15 basis points at higher LTV bandings for near-mainstream borrowers.”

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