Owner-occupied rates in its F1 range, which is for clients who just fall outside mainstream credit criteria, and its F2 range, which is for clients with recent blips in the last 24 months, start at 5.99 per cent.
F1 green mortgages, which is for properties with an EPC rating between A and C, start at 6.24 per cent for two and five-year fixed rates with flat fee of £995 and one free valuation.
On the professional mortgage side, rates begin from 6.34 per cent. It comes with a flat fee of £1,495 and one free valuation. Professional borrowers can access up to six times income in this range.
In F3 and F4 range, which is for clients who have experienced credit problems in the last 12 months and clients with no significant adverse in the last six months respectively, start at 6.99 per cent with a flat fee of £995.
In its core buy-to-let range, rate reductions have been made to its F1 and F2 range, including its F1 five-year fixed rate at 65 per cent loan to value (LTV) priced at 5.73 per cent with a flat fee of £3,955 for large loans between £200,000 and £2m.
Green buy-to-let five-year fixed rates, which are subject to a 1.25 per cent fee, free valuation and no application fee, start from 5.89 per cent.
Five-year fixed rates in its F2 range for standard houses in multiple occupation (HMO) begin at 6.19 per cent with a fixed fee of £1,995 and short-term let rates have reduced by up to 0.35 per cent with rates beginning at 6.29 per cent.
George Gee, managing director for commercial at Foundation Home Loans, said: “We are very pleased to be announcing further rate cuts across both our core owner-occupied and buy-to-let product ranges today, which are available to borrowers right across our tiers, from F1 through to F4.
“In particular, we would like to highlight those fee-assisted products which come with flat fees, and also benefit in some cases from no application fee and free valuations. We know that meeting affordability remains a significant challenge for advisers and their clients, and our focus on rate cuts and fixed fees is designed to help in this regard.”
He continued that there was “growing specialist borrower demographic” both for owner-occupier and buy-to-let space and it was “committed to lending in these sectors”.
Gee added that current service levels were “extremely fast” and it was there to “support advisers as they seek to find the right solutions for their clients”.
Furness cuts rates for 60 and 80 per cent LTV discount products
Furness has cut two-year residential discount products for cases up to 60 and 80 per cent LTV.
Its 80 per cent LTV product has fallen by 0.21 per cent and 0.14 per cent for its 60 per cent LTV product.
Both products come with a £999 fee, which can be paid up front or added the loan, and offers £250 cashback.
Alasdair McDonald, head of intermediary mortgages at Furness for Intermediaries, said: “We’ve been working really hard to deliver excellent value in our range of mortgages and we believe this rate reduction highlights this.
“We often help our broker partners to understand their clients’ accounts with self-employed cases and our experienced underwriters will always try to find a way to say yes.”
