Buy to Let by Foundation, the buy-to-let brand of specialist lender, Foundation Home Loans, has announced a series of rate cuts up to 5 basis points (bps) on its core range, with product rates now starting from 5.29%.

Rate cuts have been made across product options for the lender’s three core buy-to-let tiers, F1 – for clients with an almost clean credit history, F2 – for clients financing a more specialist property type and/or those with some historical blips on their credit rating, and F3 – for clients with more recent blips on their credit rating.

Product highlights include:

• F1 and F2 two- and five-year fixed-rates reduced by up to 0.35%, with products now available from 5.29% (1.5% fee) up to 80% LTV.
• F2 Holiday Lets two- and five-year fixed-rates now available up to 75% LTV, from 6.19% (2% fee).
• F2 HMO Limited Edition five-year fixed-rate now available at 5.74% with a reduced £2,995 fee (previously £4,995) up to 75% LTV.
• F1 ERC3 five-year fixed rate, which comes with ERCs for the first three years only, has a rate reduction of 0.20%, now 5.79% (1% fee), available up to 75% LTV.
• F1 and F2 Green Fee-Assisted five-year fixed rates reduced by up to 0.20%, now available from 5.44% (1.25% fee) up to 75% LTV.

Buy to Let by Foundation has also made rate cuts to a range of other products including fee-assisted remortgage only, Energy Performance Certificate (EPC) Saver – which comes with one free EPC plus £1,000 cashback, HMO Fee Assisted, and short-term lets including fee-assisted options.

Tom Jacob (pictured), director of product and marketing at Foundation Home Loans, said: “These rate cuts to our core buy-to-let product offering cover all our borrower tiers and vast array of the many product options we offer, including Limited Edition mortgages, and sector-specific ones such as HMOs, holiday lets, and short-term lets.

“It’s important advisers have access to the widest possible range of product solutions for their clients as each individual property/borrower need is different, and increasingly borrowers are seeking out specific property types which have a greater opportunity to make a higher yield.

“These rate cuts are significant, up to 50 basis points in some cases, and we have also made fee reductions, notably on our HMO Limited Edition five-year fix which has been cut by £2,000.

“Overall, we believe this is a highly-competitive buy-to-let product range with a wide variety of options available to all kinds of landlord borrowers, and we are keen to work with advisers and their clients in order to find the right solutions, and to explore how we can support their advice propositions in this highly important sector.”