Foundation Home Loans cuts a number of two-year buy-to-let deals

Published on

Foundation Home Loans has made a number of price cuts across its range of two-year buy-to-let fixed-rate products.

The new products are available with immediate effect and include cuts of up to 45 basis points for portfolio landlords, limited company clients and landlords purchasing or refinancing specialist properties including HMOs and MUBs.

There are also rate cuts in Foundation’s range for those borrowers with recent blips on their credit record.

Product highlights include:

  • Two-year fixed rate at 75% LTV now available from 2.69%, cut from 3.05%, for individual borrowers and limited company applicants.
  • Two-year fixed rate at 75% LTV for HMOs, now available from 2.89%, cut from 3.34% for individual borrowers and limited company applicants.
  • A cut to its large HMO/multi-unit block two-year fix products at 75% LTV, for properties with more than eight bedrooms or 10 units. These have a new rate of 2.99%.

Jeff Knight, director of marketing at Foundation Home Loans, said: “To be able to announce price cuts of up to 45 basis points is a significant move. It gives greater choice for landlords, especially HMO clients as the ICR is highly competitive in this market at only 145% at 5.5%.

“We’ve seen a growing appetite for two-year products in recent months from landlord borrowers looking for rate security alongside some freedom to be flexible after 2022.”

All two-year products have fees of 2%, ERCs of 3%/2% and come with end-terms of 31st January 2022.

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Rightmove warns property tax reforms could stall housing market

Rightmove has warned the government that proposed changes to property taxation risk distorting the...

Bradford retains crown as UK’s leading property hotspot

Bradford has once again been named the country’s most in-demand housing market, topping OnTheMarket’s...

Keystone reduces expat buy-to-let rates and adds new product

Keystone Property Finance has reduced rates across its expat buy-to-let range, cutting selected fixed...

Gatehouse cuts buy-to-let rental rates and eases paperwork

Gatehouse Bank has cut rental rates by 0.25% across its buy-to-let purchase plans for...

The Exeter: most consumers value advice when purchasing insurance

Almost two-thirds of consumers prefer to purchase insurance following professional advice, according to new...

Latest publication

Latest opinions

Bridging the Pond: How large is the US bridging finance market, and compared to the UK?

When we first got started with LendInvest in the UK, post the financial crisis,...

Passing the affordability exam

As teachers and students of various ages have spent August nervously opening exam results...

Investors are changing their approach – and lenders should too

The buy-to-let market never stands still, but the pace of change in recent years...

Leasehold fees, specialists and the need to shop around

Leasehold properties account for around 20% of all dwellings in the UK, and while...

Other news

Rightmove warns property tax reforms could stall housing market

Rightmove has warned the government that proposed changes to property taxation risk distorting the...

Bradford retains crown as UK’s leading property hotspot

Bradford has once again been named the country’s most in-demand housing market, topping OnTheMarket’s...

Bridging the Pond: How large is the US bridging finance market, and compared to the UK?

When we first got started with LendInvest in the UK, post the financial crisis,...