Buy to Let by Foundation, the buy-to-let brand of Foundation Home Loans, has announced a refresh of both Core and Special buy-to-let products, with the introduction of a 4.99% five-year fixed-rate mortgage for portfolio landlords.

Within the Core range, Foundation has reduced rates on its F1 – for portfolio and non-portfolio landlords with an almost clean credit history – five-year fixed rates by up to 50 basis points (bps), with rates starting from 5.74%.

It has also reduced rates on its F2 – for those with some historical blips on their credit rating – standard five-year fixes by 45bps, with rates starting from 5.94%, and its F2 standard HMO five-year fixes by 20bps, with rates starting from 6.29%.

In its Specials range, the lender has reintroduced its Portfolio Landlord Only five-year fixed rate, available up to 75% LTV, with rates starting from 4.99%. The product comes with a 6% fee.

It has reduced rates on its F1 standard Special two-year fixed rates by 15bps, with rates starting from 5.34%, and reduced rates on its F2 HMO Special two and five-year fixes also by 15bps, with rates starting from 5.39%.

The lender’s residential brand, Residential by Foundation, has also announced 10bps cuts to both its F1 and F2 Special Fee-Assisted two and five-year fixes, with rates now starting from 6.44%.

Tom Jacob, director of product and marketing at Foundation Home Loans, said: “These buy-to-let changes, plus the reductions to our Residential Special Fee-Assisted products, provide advisers with options for clients who are just outside the mainstream or have some historical credit blips, with access to a range of highly-competitive mortgages that match their needs.

“The specialist mortgage market is increasingly important in today’s economy, and the lower rates we are now offering should help borrowers meet their affordability criteria and secure the level of loans they require.

“Our three Foundation brands have a growing number and breadth of product options and, as a lender, we have the expertise in this area to be able to help our intermediary partners secure the positive outcomes required for their clients.”