The limited-edition HMO product has a five-year term at 75% loan to value (LTV) with a rate of 5.74% and a fixed fee of £4,995. The minimum loan size is £200,000.
The lender is lowering rates in its F2 range, aimed at clients funding a more specialist property type, with its five-year HMO fix going down by 0.25% and starting from 6.14 up to 75% LTV.
Foundation’s five-year short-term let fix is being lowered by 0.15%, with rates beginning from 6.44%, also up to 75% LTV.
Solutions by Foundation is lowering rates between 0.1% and 0.15%. Its large HMO and HMO Plus rates are being reduced by 0.1%, all available with a 2% fee, and with rates starting at 6.49% and 6.34% respectively up to 75% LTV.
The firm’s multi-unit freehold block rates have decreased by 0.2%, with rates beginning from 6.24% up to 75% LTV with a 2% fee.
The equivalent expat products have also seen reductions of up to 0.15% and are available with a 2% fee, with rates starting from 6.64% up to 75% LTV.
Tom Jacob, director of product and marketing at Foundation Home Loans, said: “Whether it’s our Core BTL or Solutions range of products, we continue to both add to our offering and introduce price cuts across the whole sphere of the buy-to-let mortgages Foundation offers.
“Today we’re able to launch a limited-edition HMO product within the ‘Buy to Let by Foundation’ range, plus a series of price reductions for a number of F2 products, while within our more specialist ‘Solutions’ range we can offer significant price cuts for Expat borrowers, and those purchasing or refinancing both HMOs and multi-unit freehold blocks.”
He continued: “Landlords continue to seek higher rental yield and are increasingly drawn to higher-yielding properties like HMOs and MUFBs, so it’s not surprising we are seeing a growing interest in this part of the market. With these cuts, landlord borrowers should find an easing of affordability, allowing them to either add to portfolios or refinance existing properties, by securing the loans they require.
“Tenant demand has not fallen back in the private rental sector, and these new products and price cuts should allow acquisitive landlords to keep adding supply to their portfolios in order to meet the ongoing need for quality rental properties.”
The firm recently brought out EPC Saver deals in both its Buy to Let and Residential brands to assist borrowers who want to improve the energy efficiency of their properties.
