"Overall, this is a positive range of rate cuts across a wide array of products, and we believe these will offer advisers with specialist clients access to the finance they need, at a reduced price"
- Tom Jacob - FHL
Foundation Home Loans has announced that it has made rate cuts of up to 30 basis points in its buy-to-let Core product range, with its F1 – for clients with an almost clean credit history – Green five-year fixed-rate mortgage reduced by 0.3%, with rates starting at 6.29%, with a 1.25% fee, a free valuation and no application fee.
Foundation’s Green products are available for those purchasing or remortgaging a property with an Energy Performance Certificate Level of C and above.
In its owner-occupied Core product range, the lender has also reduced its F1 – for those who just miss out on the mainstream - Green two- and five-year fixed rate products by up to 45 basis points, with rates starting at 6.74%, and available with £750 cashback and a fixed £795 fee.
Rate changes have also been made to its Remortgage-only, Professionals and Key Worker F1 products, with rates again reduced by up to 45 basis points.
It has also made a similar price reduction to two- and five-year fixes for all other borrower tiers; F2 – those with recent credit blips - F3 – those with credit problems in the last 12 months and F4 – those with no significant adverse in the last six months.
Tom Jacob, Director of Product and Marketing at Foundation Home Loans, said: “Over the past couple of weeks, we have focused on refreshing both our buy-to-let and owner-occupier Specials products, and now we are able to announce a full review of our Core ranges, making rate cuts of up to 30 basis points for buy-to-let and up to 45 basis points for owner-occupier borrowers.
“We continue to support those landlord borrowers and residential purchasers/remortgagors who have properties with an EPC level above C, as it is clearly beneficial to have housing stock which is as energy-efficient as possible, particularly after a period when household energy bills have been so high. We remain focused on providing these Green options and they remain a key part of both our buy-to-let and owner-occupied ranges.
“At the same time, we have cut rates on our HMO, Large HMO and Short-Term Let products for landlord borrowers, and our Remortgage-Only, Professionals and Key Worker products for residential borrowers.
“Overall, this is a positive range of rate cuts across a wide array of products, and we believe these will offer advisers with specialist clients access to the finance they need, at a reduced price.”