Foundation Home Loans has announced sweeping rate reductions across its specialist buy-to-let product range, including cuts of up to 0.55% on mortgages for non-standard property types.
The lender, which operates exclusively through intermediaries, said the changes underscore its continued focus on delivering competitive pricing and bespoke lending solutions for a broad spectrum of landlord clients. The revised rates apply across Foundation’s core and specialist ranges and are available to a variety of borrower types, including limited company landlords, expats, and those with complex property portfolios.
Among the most significant changes are reductions on mortgages for houses in multiple occupation (HMOs), multi-unit freehold blocks (MUFBs), short term lets and expat borrowers. Fixed rates on these products have been lowered by as much as 0.55%, with the limited edition five-year HMO product at 75% loan-to-value now priced at 5.64% with a £2,995 fee and a minimum loan size of £150,000.
Standard HMO rates have dropped by up to 0.40%, starting from 5.74% with a 2% fee. MUFB rates have seen the steepest reduction, with two- and five-year fixes now available from 5.84%, down by as much as 0.55%. For short term lets, rates now begin at 6.19%, reflecting reductions of up to 0.35%, while expat products start from 5.89% following rate cuts of up to 0.45%.
Within the core F1 and F2 product ranges – designed for clients with near-clean credit histories and those with minor credit issues respectively – Foundation has reduced rates by up to 0.35%. Products in this segment now start from 5.49% at up to 80% LTV.
In addition to the headline reductions, Foundation has also refreshed its buy-to-let Specials range. F1 fixed rates at 65% and 75% LTV have been cut by up to 0.15%, with rates starting from 4.09% for products with a 4% fee. Portfolio landlord five-year fixes now begin at 4.79%, while the HMO two-year fix at 75% LTV is down to 4.64%. MUFB five-year fixes have also been reduced to 5.49%.
The update follows the recent launch of Foundation’s Property Plus and HMO Plus product lines, which cater to more challenging property types, such as those with multiple kitchens, smaller units or unconventional construction.
Tom Jacob (pictured), director of product and proposition at Foundation Home Loans, said the refresh reflects the lender’s ongoing commitment to the sector.
“This latest refresh demonstrates the breadth and depth of our commitment to the specialist buy-to-let sector,” he said. “By significantly reducing rates across property types such as HMOs, MUFBs, short term lets, and for expat borrowers, we’re giving advisers even more tools to meet the unique and varied needs of their landlord clients.
“We’ve also kept a sharp focus on service, because we understand that in specialist lending, time matters. Our average turnaround times, including DIP decisions, case reviews and underwriter assessments are all within one working day meaning advisers can rely on us not only for a comprehensive product offering, but for consistent speed and support from start to finish.”
