The lender is announcing 15 basis points cuts to both its F1 and F2 two-year fixed-rate products, with rates now starting from 6.49% with a 1.5% fee.
F1 products are for clients with an almost clean credit history, with F2 products available for clients financing a more specialist property type and/or those with some historical blips on their credit rating
Cuts have also been made to the lender's remortgage-only products, and the product fee has been reduced on its F2 five-year fixed-rate Large Loan product by 0.25%. The fee is now 1.25% for products up to 70% LTV.
Tom Jacob, Director of Product and Marketing at Foundation Home Loans, said:
“Advisers will have noted over the past few weeks in particular that the direction of travel on rates has been downwards, and at ‘Buy to Let by Foundation’ we’re pleased to announce a series of further price cuts by up to 15 basis points across a number of F1 and F2 products.
“Our two-year fixes for both F1 and F2 borrowers have seen a considerable cut, while we’re also focused on supporting existing landlord borrowers who are not seeking to add to their loans and are instead seeking pound-for-pound remortgages at competitive rates.
“Other price cuts come across a number of F2 products including Large Portfolio, HMO and Short-Term Lets, all areas which have grown in popularity amongst landlords particularly as they seek higher-yielding property investments.
“We’ll continue to closely monitor the market in order to ensure our buy-to-let product range is as competitive as it can be, and that we are meeting the needs of advisers and their landlord clients.”
