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LendInvest cuts resi rates; Foundation Home Loans reduces limited edition rates – round-up

  • 22/11/2023
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LendInvest cuts resi rates; Foundation Home Loans reduces limited edition rates – round-up
Mortgage platform LendInvest has reduced residential mortgage rates ahead of the Autumn Statement later today.

Pricing begins from 6.04 per cent, with products aimed at key workers, self-employed, multiple income streams and complex credit customers.

Paula Mercer, head of sales at LendInvest, said: “As inflation falls and the Bank of England Base Rate remains static, we have been moving quickly to ensure those benefits are passed on to our residential customers who may struggle to get a mortgage elsewhere.

“Today we are delighted to announce these rate reductions, and are at the same time looking to the Chancellor, and his Autumn Statement to provide further support for these borrowers, including first-time buyers.”


Foundation Home Loans lowers limited edition deals and adds products

Intermediary-only specialist lender Foundation Home Loans has cut rates on several of its buy-to-let limited edition products and brought out a limited edition five-year fixed rate.

The limited edition products are in its F1 range, which is aimed at borrowers with an almost clean credit history.

Rate cuts include a two-year fixed rate at 75 per cent LTV which has fallen 0.15 per cent to 6.59 per cent. It is subject to a £1,495 fee.

The lender’s five-year fixed rate at 75 per cent LTV has also decreased by 0.15 per cent to 6.24 per cent and has a one per cent fee.

Its seven-year fixed rate at 75 per cent LTV is priced at 6.69 per cent, down 0.3 per cent, and is subject to a one per cent fee.

The firm’s new limited edition extra product is a five-year fixed rate at 75 per cent LTV with a rate of 6.14 per cent and a fixed fee of £2,995.

Tom Jacob, director of product and marketing at Foundation Home Loans, said: “We continue to look at how and where we can drop rates for landlord borrowers, and today we’re pleased to be dropping our pricing across three F1 Limited Edition fixed-rates, plus we’ve  launched a brand new five-year fix which comes with a fixed fee.

“All products are available up to 75 per cent LTV and come with different fee structures in order to provide options for landlord clients and to help them meet affordability. Large numbers of landlord borrowers will be coming up for renewal throughout the months ahead, plus we’re seeing growing purchase activity as rates fall lower.

“At Foundation we are fully focused on the buy-to-let space and have excellent service levels to support advisers and their clients in this sector.”

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