The lender has cut select owner-occupier rates by around 0.1 per cent and fees have been cut by £500 to £999. Pricing starts from 6.44 per cent at 65 per cent loan to value (LTV) in its F1 range, which is for borrowers just missing out on the mainstream.
Foundation has also released to specialist fee-assisted five-year fixed rate F1 products and F2 deals. The latter is for clients with recent credit blips in the last 24 months.
The deals are available up to 65 per cent LTV, with a reduced fee of £795, one standard valuation and no application fee. Pricing starts from 6.59 per cent.
In its core owner-occupier range, Foundation is introducing five-year fixed rates for both F1 and F2 borrowers, and two and five-year fixed rates for green F1 range.
The lender is bringing out 80 per cent LTV deals for owner occupiers for F1 and F1 green borrowers, with pricing starting at 5.94 per cent for a two-year fixed rate.
On the buy-to-let side, Foundation is cutting product rates and fees, with two-year fixed rate special fees moving from two per cent to one per cent.
Its F1 five-year fixed rate special product at 65 and 75 per cent LTV have been lowered by 0.1 per cent. Rates begin at 5.94 per cent.
Foundation: ‘A greater array of choice’
George Gee, managing director for commercial at Foundation Home Loans, said: “Many of these changes focus on our special and core owner-occupier products.
“We believe this provides a greater array of choice, in particular for those existing homeowner borrowers seeking to remortgage and by dropping the fees on those products, it should also help them in terms of keeping those initial costs down.”
He continued that the lender had been “keen to build back up with a broader owner-occupied offering” which is why it had added F1 deals and F1 green products at 80 per cent LTV.
Gee added that “where possible” it had focused on lowering buy-to-let pricing and had cut fees on two-year specials in the range to help landlord borrowers with “upfront costs”.
“Overall, we believe these changes, coupled with the rest of our core range, provides both advisers and their specialist owner-occupier and buy-to-let clients with a greater array of choice to fit many different needs and circumstances, and we’re looking forward to working with advisers to help them find the solutions they need,” he said.
