Foundation has refreshed its buy-to-let rates, reducing pricing by up to 0.25% across a wide range of mortgage products while lowering its minimum property value to £70,000.
The intermediary-only specialist lender announced the changes on 8 July as part of one of its largest buy-to-let range updates this year, aiming to strengthen its offering for landlords across both mainstream and specialist markets.
Alongside the lower buy-to-let rates, Foundation has updated its lending criteria to give brokers greater flexibility when arranging finance for landlord clients. The lender said the changes are intended to broaden access to specialist lending across a range of borrower circumstances, property types and portfolio requirements.
Buy-to-let rates reduced across multiple product ranges
The latest changes include:
- Selected F1 buy-to-let standard products reduced by up to 0.25%, including ERC3 and remortgage-only options.
- The majority of standard HMO rates reduced by up to 0.25%.
- All MUFB rates reduced by up to 0.25%.
- All short-term and holiday let rates reduced by up to 0.20%.
- The majority of expat rates reduced by up to 0.20%.
- All Property Plus rates reduced by 0.10%.
Foundation has also lowered its minimum buy-to-let property value to £70,000. Properties valued between £70,000 and £75,000 will be eligible for a maximum loan-to-value of 75%.
The lender said the combination of lower buy-to-let rates and revised lending criteria reflects its continued focus on supporting landlords with a broad range of borrowing needs while giving brokers access to a wider selection of specialist mortgage options.
"This significant buy-to-let refresh reflects our determination to provide brokers with both greater choice and stronger pricing across a wide range of landlord scenarios," said Grant Hendry, director of sales at Foundation (pictured).
"We have reduced rates across almost the entire Buy to Let range. Combined with reducing our minimum Buy to Let property value to £70,000, these changes provide brokers with more ways to support their landlord clients.
"Several products now sit in highly competitive positions within the market, including products that are at or near the top of the sourcing tables in their respective categories.
"As a specialist lender, our focus remains on responding quickly to market opportunities and ensuring advisers have access to solutions that meet the diverse needs of today's landlords, whether they are purchasing, remortgaging, expanding portfolios or investing in more specialist property types."
