Foundation Home Loans has returned its buy-to-let product range to its pre-lockdown structure with the reintroduction of large loan, early remortgage and short-term let products.

The lender has also introduced a number of rate reductions of up to 40 basis points across its five-year buy-to-let products for both individuals and limited company borrowers, with rates now available from 3.29%.

From today, advisers will be able to access a number of returning buy-to-let products including:

• Large loan mortgage – 3.29% five-year fixed-rate available for F1 borrowers at 65% LTV.
• Early remortgage – 3.65% five-year fixed-rate available for F1 borrowers with a maximum LTV of 75%.
• Short-term let mortgages – both two-year (3.99%) and five-year (4.64%) fixed-rates available for F1 borrowers up to a maximum LTV of 75%.

These rate cuts and product returns are in addition to last month’s new products which include a new five-year ‘fixed fee’ product for F1 borrowers, which the lender believes will also benefit borrowers looking for larger loans. Those rates have also seen reductions and are now offered at 3.74% up to 65% LTV or 3.99% up to 75% LTV and come with a fixed fee of £1,995.

Foundation also introduced a number of criteria changes across the buy-to-let range in June including the re-introduction of a 125% ICR for limited company borrowers and basic-rate taxpayers, while it is also offering products for first-time landlords again.

Jeff Knight, director of marketing at Foundation Home Loans, said: “It’s fair to say that the buy-to-let market is in a different place to where it was at the start of the year, but with each week we are marking that return to a ‘new normal’ and we are offering our adviser partners access to a wide range of products for their clients.

“We’ve seen a strong demand from intermediaries who say there are many landlords who want to make the most of the opportunity, refinancing in order to fund future purchases, and looking at diversification of their portfolios. These products will allow them to do that, and we are particularly pleased to be back in the short-term let space as we believe there will be a growing demand to utilise these properties, particularly in the holiday sector.

“Our sales team are available to support all advisers and help them place these cases, we have a strong appetite to lend and we are very positive about the buy-to-let market throughout the rest of 2020 and beyond.”