The firm said the changes apply to a “large proportion” of its specialist BTL offerings, which include standard and large house of multiple occupation (HMO) products, along with multi-unit freehold blocks (MUFBs), which have seen rates cut by up to 0.3% and start at 4.24%.
Short-term let and holiday let products have been cut by up to 0.15%, with rates beginning at 5.99%.
Rates on two F3 products, which are aimed at clients with more recent credit blips, have fallen by 0.3%, with both the two- and five-year fixed rates having a 2% fee and being priced at 6.54% and 6.34% respectively.
The lender has also added new two- and five-year fixed rate products at 65%, 75% and 80% loan to value (LTV) with a 3% fee for both standard HMO and MUFB properties.
Foundation has also brought out two new fixed rate products for expat borrowers. These are for F1 borrowers, which are defined as clients with an almost clean credit history, with both 65% and 75% LTV options.
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Pricing begins from 4.39% for a two-year fix with a 3% fee and 5.09% for a five-year fixed rate with a 4% fee.
Rates have also been cut on the lender’s Property Plus, HMO Plus, STL Plus, MPOTs, Mixed Use and Mixed Use Expat products.
Foundation recently underwent a rebrand, changing both its name and logo, which it said showed the “scale, maturity and capability of the lender it has become”.
Grant Hendry (pictured), director of sales at Foundation, added: “Specialist buy to let remains a core focus for us and these latest rate cuts underline our commitment to supporting brokers across a wide range of cases. By reducing pricing across many of our specialist products, we’re reinforcing both the breadth of our range and our reliability as a lending partner in a market where brokers and their clients need options they can trust.
“Our proposition is built around flexibility. From HMOs and MUFBs to short-term lets, holiday lets and mixed use, we aim to give brokers products that work for real-world scenarios. This combination of lower rates and new fixed rate options at different LTVs gives brokers more control when placing business for their landlord clients.”
He added: “We’ve also maintained a strong focus on borrowers who are often under-served. Making improvements in these areas reflects our day-to-day experience of broker demand and our view that specialist lending should remain accessible, consistent and well-priced.
“These changes come at a time when brokers value certainty from their lenders. Alongside our refreshed brand, this announcement reinforces what brokers can expect from Foundation. A wide product range, dependable lending decisions and the flexibility to support specialist buy-to-let cases with confidence.”
