Foundation Home Loans has unveiled a pair of new residential products at 85% LTV and also reduced selected 80% LTV rates.

The lender’s residential range is designed to meet the needs of borrowers with complex income and employment such as the recently self-employed and those looking to optimise their affordability with up to 100% of a wide range of income.

Foundation is launching two new 85% LTV standard residential products with a two-year fix priced at 4.34% and a five-year fix priced at 4.69%, both with a fee of £995.

Additionally, existing 80% LTV product rates in its near-mainstream range for both standard and first-time buyer clients have been cut. These cover the following:

• Two-year fix cut from 3.79% to 3.64% and five-year fix cut from 4.29% to 4.04% with a £995 fee
• Two-year 1.55% discount now with a current rate of 3.54%, down from 3.69% with a £995 fee
• First-time buyers only: two-year fix cut from 3.89% to 3.79% and five-year fix cut from 4.39% to 4.19%, both with a £595 fee

George Gee, commercial director at Foundation Home Loans, said: “There is undoubtedly a growing demand in the residential space, and Foundation is looking to meet this demand with keen pricing on our near-mainstream 80% LTV rates, and the introduction of two new options at 85% LTV.

“With 2020 having a significant impact on many individuals’ income and the financial situation of many existing borrowers, we anticipate an increased number of clients will require specialist residential finance.

“Our full, highly-competitive, residential range is available to both purchasers and remortgagors who do not meet stricter mainstream mortgage criteria and individuals who have historical credit blips.”