Foundation has announced that it has cut buy-to-let rates across its standard and specialist range and launched new Property Plus Expat products, with rate reductions of up to 0.35% taking effect from 23 June.
The intermediary-only specialist lender said the changes reflect ongoing market conditions and continued demand from landlord borrowers for greater choice across property types and borrower profiles, particularly in more specialist areas of the buy-to-let market.
New Property Plus Expat 2 and 5-year products are available at 75% LTV, priced at 6.39% and 6.49% respectively, both carrying a 2% fee. The expat additions sit alongside a broader set of rate cuts spanning fixed, fixed green, HMO and HMO green products.
Across the F1 tier, aimed at clients with a near-clean credit history, reductions of up to 0.35% bring rates to the following levels:
- F1 2-year fixed at 75% LTV: down 0.25% to 4.59% with a 3% fee
- F1 5-year fixed green at 75% LTV: down 0.35% to 4.99% with a 5% fee, free standard valuation and no application fee
- F1 5-year fixed at 75% LTV: down 0.20% to 5.29% with a 4% fee
- F1 2-year fixed at 65% and 75% LTV: down 0.20% and 0.15% to 5.59% and 5.79%, both with a 1% fee
- F1 5-year fixed at 65% and 75% LTV: down 0.20% and 0.10% to 5.69% and 5.89%, both with a 1.5% fee
HMO products have also been repriced. The HMO green 5-year fixed at 75% LTV falls 0.25% to 5.24%, with a 4% fee, £500 cashback and no application fee. The HMO 2-year fixed drops 0.20% to 4.69% with a 3% fee, and the HMO 5-year fixed comes down 0.20% to 5.44% with a 4% fee.
"In the current market, brokers need a lender that can offer both consistency and breadth of product, particularly as landlord cases become more varied and often more complex," said Grant Hendry, director of sales at Foundation (pictured).
"These latest additions are about making sure brokers have the right options available, whether they are placing standard buy-to-let business or working across more specialist areas such as HMOs.
"We're also seeing continued interest in expat borrowing, and it's important we keep that range competitive while still reflecting wider market movements. At the same time, the rate reductions of various Green products are another step in supporting landlords who have improved existing properties or are targeting more energy-efficient investments from the outset.
"Ultimately, this is about giving brokers clarity and choice. In a market that can move quickly, having a lender that sets out its proposition clearly and maintains a strong spread of products can make a real difference to how efficiently brokers are able to place cases and deliver for their clients."
