Foundation has reduced pricing across much of its specialist buy-to-let range and introduced a series of new fixed-rate products as competition intensifies in the landlord market.
The intermediary-only lender has cut rates by up to 30 basis points across a large proportion of its specialist buy-to-let offering, with products for standard and large HMOs and multi-unit freehold blocks now starting from 4.24%.
New two- and five-year fixed-rate products with a 3% fee have been added at 65%, 75% and 80% LTV for both standard HMO and MUFB properties, widening the options available to brokers placing more complex cases.
Short-term let and holiday let products have also been repriced, with reductions of up to 15 basis points and rates now starting at 5.99%.
Foundation has also cut rates by 30 basis points on two F3 products aimed at borrowers with more recent credit blips. The two-year fixed-rate, with a 2% fee, is now available at 6.54%, while the five-year fixed-rate equivalent stands at 6.34%.
EXPATS
In addition, the lender has launched two new fixed-rate options for expat borrowers. Both are for F1 clients – those with an almost clean credit history – and are available at 65% and 75% LTV.
Rates start at 4.39% for a two-year fixed-rate product with a 3% fee and 5.09% for a five-year fixed-rate with a 4% fee.
Pricing has also been reduced across the lender’s Property Plus, HMO Plus, STL Plus, MPOTs, Mixed Use and Mixed Use Expat ranges.
The revisions follow a full rebrand introduced last month, which the lender said marked a clear step forward as it continues to support brokers handling complex buy-to-let and residential cases.
Grant Hendry (pictured), director of sales at Foundation, said: “Specialist buy to let remains a core focus for us and these latest rate cuts underline our commitment to supporting brokers across a wide range of cases.
“By reducing pricing across many of our specialist products, we’re reinforcing both the breadth of our range and our reliability as a lending partner in a market where brokers and their clients need options they can trust.
“Our proposition is built around flexibility. From HMOs and MUFBs to Short Term Lets, Holiday Lets and Mixed Use, we aim to give brokers products that work for real-world scenarios.
“This combination of lower rates and new fixed rate options at different LTVs gives brokers more control when placing business for their landlord clients.
“We’ve also maintained a strong focus on borrowers who are often underserved. Making improvements in these areas reflects our day-to-day experience of broker demand and our view that specialist lending should remain accessible, consistent and well-priced.
“These changes come at a time when brokers value certainty from their lenders. Alongside our refreshed brand, this announcement reinforces what brokers can expect from Foundation.
“A wide product range, dependable lending decisions and the flexibility to support specialist buy to let cases with confidence.”
