Foundation Home Loans has announced rate reductions across its mortgage range. This change, which encompasses both buy-to-let (BTL) and owner-occupied mortgages, offers an opportunity for borrowers to access more affordable financing options.

Better Deals for Buy-to-Let Landlords

Foundation Home Loans has introduced notable reductions in its buy-to-let Specials range. This is particularly beneficial for clients with nearly perfect credit histories, identified as the F1 tier. These reductions include:

• A decrease of 0.45% in F1 tier products. Notably, a 5-year fixed-rate mortgage for portfolio landlords now starts from 4.79%, albeit with a 6% fee.
• The F1 fee-assisted, 5-year fixed-rate products for portfolio landlords saw a more significant reduction of 0.50%, with rates now starting from 5.09% and a 5% fee.
• Furthermore, both 2-year and 5-year fixed-rate BTL products experienced reductions of up to 0.50%, with rates beginning at 5.19% and a 3% fee.

For houses in multiple occupation (HMO) under the F2 tier, both 2-year and 5-year fixed-rate products saw a decrease of up to 0.45%. Rates for these now start at 5.34%, with a 3% fee.

Owner-Occupied Mortgages

The company has also revised its Owner-Occupied Specials Range. These changes are particularly aimed at assisting those who might not meet the strict criteria of mainstream mortgage markets. The adjustments include:

• Cuts of up to 0.40% in F1 2- and 5-year fixed-rate, fee-assisted products. Rates for these now start at 6.44%, accompanied by a £795 fee.
• Similarly, F2 2-year and 5-year fixed-rate, fee-assisted products were reduced by up to 0.40%. These now begin at 6.54%, also with a £795 fee.

Comments from the Inside

Tom Jacob, the director of product and marketing at Foundation Home Loans, expressed optimism about these changes. He highlighted the positive market trends that have enabled these rate reductions, benefiting both buy-to-let and owner-occupied clients. Jacob emphasised the company’s commitment to offering competitive options, especially for those not fully served by the mainstream mortgage market. He also hinted at more exciting changes and improvements in the pipeline, promising further announcements soon.