The buy-to-let products within the lender’s F1 tier, aimed at borrowers with an almost clean credit history, are five-year fixed rates.
Its deal at 65 per cent loan to value (LTV is 5.24 per cent and at 75 per cent LTV this rises to 5.34 per cent. Both come with a six per cent fee.
The maximum aggregate borrowing for these special products is £3m.
Tom Jacob, director of product and marketing at Foundation Home Loans, said: “Portfolio landlords are a key borrower demographic within buy to let, and much of the property supply within the private rental sector is reliant on these borrowers, their properties, and their commitment to delivering more housing.
“These new products are specifically for portfolio landlords and come with a lower rate, higher fee option, in order to help them meet affordability, and to support their purchase or refinance needs. The launch of these new options comes swiftly after price cuts to our other buy-to-let specials as we continue to support advisers and their landlord clients.”
Foundation also reduced their buy-to-let rates at the end of last week.
Tipton and Coseley lowers rates
Tipton and Coseley (T&C) Building Society is reducing rates for new customers across its two-year fixed rates.
The lender’s two-year fixed rate at 75 per cent LTV with £999 fee is 5.44 per cent, and its two-year fixed rate at 90 per cent LTV with £999 fee is 5.64 per cent.
Jason Newsway, director of sales and marketing at the Tipton, said: “We’re pleased to be able to reduce rates across our two-year residential fixed rates products.
“In such a dynamic market, we are continually striving to ensure that we remain as competitive as possible to support brokers and their clients’.”
