Examples of the rate cuts include a three-year fixed rate mortgage up to 60% loan to value (LTV) for remortgage purposes, which has fallen from 4.4% to 4.32%. The product comes with a £995 fee, free standard valuation and remortgage legal services.
The lender’s two-year fixed rate to 80% LTV, also for remortgage, will decrease from 4.95% to 4.87%. The deal has a £995 fee, free standard valuation and remortgage legal services.
Finally, its three-year fixed rate to 65% LTV for house purchase will fall from 4.5% to 4.42%. It also comes with a £995 fee and free standard valuation.
Cheryl Bleasdale, product manager at Accord Mortgages, said: “We’re delighted to be able to seize an opportunity to offer even better value to our landlord clients.
“We understand the real cost pressures landlords currently face and will continue to do everything we can to help mitigate those wherever possible.”
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Earlier this month, the firm increased its maximum loan sizes.
Foundation Home Loans launches limited-edition BTL deals and cuts rates
Foundation Home Loans has brought out five limited-edition BTL products that aim to cater for larger loan sizes and come with flat fee structures.
The products include an F1 – which is for landlord borrowers with an almost clean credit history – five-year fixed rate at 75% LTV at 5.19% with a flat fee of £4,995. It has a minimum loan size of £200,000.
The lender has also added an F1 five-year fixed rate at 75% LTV priced at 4.99%. It has a flat fee of £7,995 and a minimum loan size of £300,000.
Within its F2 range, which is for landlord borrowers financing a more specialist property type, the firm has launched a large house in multiple occupation (HMO) two-year fixed rate at 75% LTV at 6.34%. The deal has a fee of £4,995 and a minimum loan of £200,000.
Foundation Home Loans has also added a large HMO five-year fixed rate at 6.14% at 75% LTV with a fee of £4,995 and minimum loan of £200,000.
The lender has also brought out a five-year fixed rate for multi-unit freehold blocks (MUFBs) at 5.64% at 75% LTV. It has a fee of £4,995 and minimum loan size of £200,000.
The lender has also reduced the rate on its existing F1 Expat two-year fix by five basis points (bps), which is now priced at 6.09% at 75% LTV with a 1.5% fee.
Tom Jacob, director of product and marketing at Foundation Home Loans, said: “These new limited editions are designed to deliver real value to landlords seeking larger loans, while supporting brokers with options that address the complexity of modern buy-to-let lending.
“We continue to innovate across the buy-to-let spectrum and remain committed to providing products that go further than just competitive rates. At Foundation Home Loans, our strength lies in our broad proposition, underpinned by specialist expertise.”
