Foundation Home Loans introduces new rates and fees

Published on

Foundation Home Loans has added three new Limited Edition products to its core buy-to-let range and added Special Editions to both its buy-to-let and owner-occupied offering.

In its F1 tier, the lender is introducing a 6.39% five-year fixed-rate, while in its F2 tier, it has introduced both a 6.59% Large HMO five-year fixed rate and a 6.79% Short Term Let five-year fix.

All three Limited Edition products come with a £2,995 fee, a free valuation and no application fee.

Foundation is also introducing a range of Specials with enhanced features within its buy-to-let range including reduced product fees for its F1 five-year fixes, down from 1.5% to 1.25%, and well as new F1 two-year fixed-rates, starting from 5.99%, with one free standard valuation.

In owner-occupied, Foundation has introduced new F1 and F2 fee-assisted product options for both two and five-year fixed-rate periods, with all products having a £795 fee, a free valuation and no application fee. Rates start at 6.29%.

The new products follow the refreshing of all Foundation’s products within its core buy-to-let and owner-occupied ranges at the end of May.

Tom Jacob, director of product and marketing at Foundation Home Loans, said: “At the end of last month, we were able to relaunch both our core buy-to-let and owner-occupied products, and continuously looking at our range, reviewing where we believe there is strong demand, we have now been able to launch both new limited editions and special products with a number of new features.

“The new limited edition F1 product within our core buy-to-let range should have a wide appeal across a number of landlord borrowers, while our more niche HMO and short-term let five-year fixes are targeting a growing demand within the sector, particularly as landlords seek increasing yields.

“Our new Special products offer competitive options, particularly for owner-occupied customers looking to remortgage, given the lower fees, and the fact they come with both a free valuation and no application fees.

“Overall, this broadens the product choice we are offering and targets specific landlord and owner-occupier borrowers, which we believe will allow advisers to offer a wider range of solutions to their clients from Foundation.”

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

Family BS strengthens intermediary team with BDM appointment

Family Building Society has appointed Sam Byrne as business development manager for the northern...

Buckinghamshire cuts rates across credit repair ranges

Buckinghamshire Building Society has reduced selected rates across its Credit Revive and Credit Restore...

Rosemount launches AI tool to speed up ceding scheme work

Rosemount Financial Solutions (IFA) has launched an AI-powered tool designed to help advisers deal...

Conveyancing Association launches summer webinar series

The Conveyancing Association has launched a summer webinar series for conveyancing firms, delivered with...

Atom bank lowers near prime mortgage rates

Atom bank has reduced rates across its near prime mortgage range by 10bps. The reductions...

Latest publication

Other news

Family BS strengthens intermediary team with BDM appointment

Family Building Society has appointed Sam Byrne as business development manager for the northern...

Buckinghamshire cuts rates across credit repair ranges

Buckinghamshire Building Society has reduced selected rates across its Credit Revive and Credit Restore...

Rosemount launches AI tool to speed up ceding scheme work

Rosemount Financial Solutions (IFA) has launched an AI-powered tool designed to help advisers deal...