"While we have made some changes to pricing and product structure, our focus remains on offering practical solutions across a wide range of borrower and property types"
- Grant Hendry - Foundation Home Loans
Specialist lender Foundation has relaunched its buy-to-let mortgage range, restoring cover across standard products, HMOs, multi-unit freehold blocks (MUFBs), short-term lets, expat lending, and both Property Plus and HMO Plus options.
Fee reductions have been made on five-year fixed-rate standard HMO products, with the lender saying the changes are designed to improve overall value for brokers placing complex landlord cases.
The relaunch follows a brief withdrawal earlier this week, which Foundation attributed to a period of significant market movement. With conditions showing early signs of stabilising, the intermediary-only lender says it is now open to new business across both its buy-to-let and residential ranges.
Buy-to-let range restored with fee cuts for HMO landlords
The relaunched buy-to-let proposition covers the full breadth of Foundation's core specialist areas, giving brokers access to products for landlords operating across a range of property types and structures. The fee reductions on five-year fixed HMO products are a notable change from the previous range, reflecting competitive pressure within the specialist buy-to-let sector.
"We took the decision earlier this week to withdraw products in response to a period of significant market movement and deep uncertainty," said Grant Hendry, director of sales at Foundation. "At the time, we felt that was the right step to ensure we could protect both our wider lending position and the service we offer to brokers.
"Since then, we have seen some signs of stability returning, and that has allowed us to relaunch this range of both buy-to-let and residential products. After just a few days, we are pleased to be back in the market, open to new business, and supporting brokers and their clients once again with a strong and relevant set of options."
Not all previous products have returned. Foundation says it has deliberately streamlined both ranges to allow faster responses to future market movements, while retaining full coverage across its core areas.
Residential range returns with new LTV tiers and remortgage options
Alongside the buy-to-let relaunch, Foundation has reintroduced residential products at 65% LTV for its F1 tier and added new options up to 85% LTV within its F2 range. Two- and five-year fixed rates are available for remortgage-only cases, with borrowers able to choose between cashback or fee-assisted legals.
The residential range also includes products for key workers, EPC Savers, and joint borrower sole proprietor applications, broadening the options available to brokers working with clients in more varied circumstances.
"While we have made some changes to pricing and product structure, our focus remains on offering practical solutions across a wide range of borrower and property types," Hendry added. "That includes maintaining support for more complex buy-to-let cases, as well as improving choice within our residential proposition."
Market conditions remain fluid, Foundation warns
Despite the relaunch, Foundation was candid that the wider environment has not fully settled. Hendry cautioned brokers that further changes remain possible if market conditions shift again.
"It is important to be clear that the situation remains fluid. We are keeping a close watch on market developments and will continue to act quickly if conditions change. Our aim is to provide as much certainty as we can, while staying responsive in what is still a fast-moving environment."
Rates across both ranges are described as competitive within the specialist sector, with products available across a mix of fixed terms and fee options. Full details are available in the updated product guides on Foundation's website.
