Foundation Home Loans has reduced rates on both its buy-to-let and Owner-Occupied Specials.

The Buy-to-Let Specials Range changes include:

• F1 – for clients with an almost clean credit history – five-year fix, portfolio-only, products reduced by 45 basis points (bps), with rates starting from 4.79%, with a 6% fee.
• F1 fee-assisted, five-year fix, portfolio-only, products reduced by 50 bps, with rates starting from 5.09%, with a 5% fee.
• F1 two- and five-year fixed-rate products reduced by up to 50 bps, with rates starting from 5.19% with a 3% fee.
• F2 HMO – for clients financing a more specialist property type – two- and five-year fixed rate products reduced by up to 45 bps, with rates starting from 5.34%, with a 3% fee.

In its Owner-Occupied Specials Range, changes include:

• F1 – for clients who fall just outside the mainstream– two- and five-year fixed-rate fee assisted products reduced by up to 40 bps, with rates starting from 6.44%, with a £795 fee.
• F2 – for clients with credit blips within the last 24 months – two- and five-year fixed-rate fee assisted products reduced by up to 40 bps, with rates starting from 6.54%, with a £795 fee.

Tom Jacob, director of product and marketing at Foundation Home Loans, said: “The market continues to move positively in favour of borrowers, and as a result, we’ve been able to reduce rates across a large number of Specials, for both buy-to-let and owner-occupied clients.

“In buy-to-let we’re very pleased to be able to offer a five-year fix below 5% and we have made further reductions across both two- and five-year fixes, within both our F1 and F2 tiers, and we’re sure these will provide further options to advisers with landlord clients.

“We’ve made similar reductions in our owner-occupied range, again for both F1 and F2 clients, so those clients who are not quite able to meet the criteria demands of the mainstream mortgage market have access to competitively-priced mortgages via Foundation.

“These rate reductions come as part of a set of exciting changes that Foundation is making throughout January, including significant improvements to the adviser experience as well as our product proposition. We’ll be announcing further news in this area shortly, so watch this space.”