In its buy-to-let specials range, the Foundation F1 five-year fixed portfolio-only rates, for clients with an almost clean credit history, has fallen by 0.45 per cent with rates beginning from 4.79 per cent with a six per fee.
The firm’s F1 fee-assisted, five-year fix, portfolio-only, products have been cut by 0.5 per cent, with rates beginning from 5.09 per cent, with a five per cent fee.
The F1 two- and five-year fixed-rate products have decreased by up to 0.5 per cent, with rates starting from 5.19 per cent with a three per cent fee.
Foundation F2 range
In its F2 houses in multiple occupation range, which is for clients financing a more specialist property type, two and five-year fixed rate products have gone down by up to 0.45 per cent, with rates beginning from 5.34 per cent, with a three per cent fee.
F2 two and five-year fixed rate fee-assisted products, for clients with credit blips, have gone down by 0.4 per cent with rates beginning from 6.54 per cent with a £795 fee.
In the lender’s owner-occupied specials range, changes include, F1 two and five-year fixed rate fee-assisted deals, for clients who fall just outside the mainstream, pricing has fallen by up to 0.4 per cent with rates starting from 6.44 per cent with a £795 fee.
Tom Jacob, director of product and marketing at Foundation Home Loans, said: “The market continues to move positively in favour of borrowers, and as a result, we’ve been able to reduce rates across a large number of Specials, for both buy-to-let and owner-occupied clients.
“In buy-to-let, we’re very pleased to be able to offer a five-year fix below five per cent and we have made further reductions across both two- and five-year fixes, within both our F1 and F2 tiers, and we’re sure these will provide further options to advisers with landlord clients.
He added: “We’ve made similar reductions in our owner-occupied range, again for both F1 and F2 clients, so those clients who are not quite able to meet the criteria demands of the mainstream mortgage market have access to competitively-priced mortgages via Foundation.
“These rate reductions come as part of a set of exciting changes that Foundation is making throughout January, including significant improvements to the adviser experience as well as our product proposition. We’ll be announcing further news in this area shortly, so watch this space.”
MPowered Mortgages cuts three-year fixed rates
Fintech mortgage lender MPowered Mortgages has lowered three-year fixed rates by up to 0.22 per cent.
For purchase-only loans at 60 per cent loan to value (LTV), rates have fallen from 4.59 per cent to 4.37 per cent.
At 75 per cent LTV, pricing has gone down from 4.69 per cent to 4.49 per cent and at 80 per cent LTV, this has decreased from 4.79 per cent to 4.69 per cent.
Remortgage three-year fixed rates start at 4.46 per cent, 4.58 per cent and 4.93 per cent at 60 per cent LTV, 75 per cent LTV and 80 per cent LTV respectively.
Stuart Cheetham, CEO at MPowered Mortgages, said: “It is great to be able to bring our rates down again, following what has been a very positive start to 2024. We understand that many people will be facing significant financial pressures this year, which is why we are working to do everything in our power to make our products as accessible as possible.
“While there is cautious optimism about the outlook for rates this year, advisors will still need to continue to use their knowledge of the market to ensure buyers land on a deal that works for them.”
It is the second time that MPowered Mortgages has lowered rates this year, with two and five-year fixes cut by up to 0.25 per cent.
The lender also introduced cashback on all products for homebuyers.
