Foundation Home Loans cuts BTL rates

Foundation Home Loans has announced a series of rate cuts to select five-year fixed rate buy-to-let mortgage products.

The reduced offers are within the lender’s F1 and F2 range, with the former range available for borrowers with no CCJs, defaults or mortgage arrears in the last six years, while the latter range is for individuals with “more recent blips on their credit record”.

The 65 per cent LTV five-year fix has been reduced from 3.29 per cent to 3.19 per cent, and the 75 per cent LTV five-year fix has been sliced from 3.45 per cent to 3.35 per cent.

Both the above two products are within the lender’s F1 range.

In addition, the lender has cut rates on the 65 per cent LTV five-year fix from 3.39 per cent to 3.34 per cent, and the 75 per cent LTV five-year fix from 3.55 per cent to 3.49 per cent, with both these products in the lender’s F2 range.

All four offers are available through the firm’s distributor network including all mortgage clubs, networks and key packagers.

Foundation Home Loans director of marketing Jeff Knight says: “In the current climate, many landlords are looking for stronger levels of payment security – coupled with an array of options and a certain degree of flexibility where possible.

“The demand for five-year fixed rate deals continues to rise and we will continue positioning ourselves at the forefront of the BTL lending landscape to help all landlord clients bolster or better manage their portfolios.”

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