Alongside this launch, the firm has lowered rates for its existing two-year limited-edition fixes.
Foundation Home Loans’ F1 range is for those with an almost clean credit history, and the F1 75% loan to value (LTV) limited-edition five-year fixed rate comes to 5.24%. It is available to portfolio landlords and has a 1.75% fee, a free standard valuation and no application fee.
Meanwhile, the 75% LTV limited-edition two-year fixed BTL offering has undergone a 25 basis point reduction to stand at 4.99%. It has a fee of £2,995 and a minimum loan size of £200,000.
Foundation Home Loans said the moves were intended to cater to an uptick in activity from those who may have delayed decisions ahead of the Autumn Budget last week.
Tom Jacob, director of product at Foundation Home Loans, said: “Many landlords have spent the last few weeks waiting to see what the Budget would bring. Now that we have more clarity, the changes that could affect them are still some way off, and we expect a number of brokers to see renewed interest from clients who had paused decisions.
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“By cutting the rate on our F1 limited-edition two-year fixed, we are giving brokers a sharper option for larger loans, with a simple flat fee and a competitive rate. Alongside this, our new F1 limited-edition five-year fixed is aimed squarely at portfolio landlords who are focused on growing and reshaping their holdings, helped by the combination of a competitive rate, percentage fee, free standard valuation and no application fee.
“We know brokers want lenders who stand with them during all market periods. These changes show our ambition to support both brokers and their landlord clients with clear options, steady service and products that work for the type of cases they are placing. Our teams remain on hand to help with case queries, product selection and any support advisers need as activity builds again.”
