Foundation Home Loans makes buy to let rate reductions

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  • 17/09/2020
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Foundation Home Loans makes buy to let rate reductions
Foundation Home Loans has reduced rates on buy-to-let products across all tiers and property types.

 

This includes the 80 per cent loan to value (LTV) two-year fixed rate which has been reduced by 20 basis points from 4.29 per cent to 4.09 per cent. This is available to F1 borrowers who are classified as those with an almost clean credit record.  

The homes in multiple occupancy (HMO) five-year fixed product has been cut by 60 basis points at 75 per cent LTV. This is now 3.94 per cent from 4.54 per cent for properties with up to six occupants. 

For larger HMOs with a maximum of eight bedroom and all multi-unit blocks to a maximum of 10 units, the 75 per cent five-year fixed has gone down to 4.04 per cent from 4.64 per cent. 

Products at 65 per cent LTV rates have also seen reductions of 25 basis points. 

Short-term let fixes including the two-year term at 65 per cent LTV has been reduced to 3.49 per cent from 3.59 per cent and the 75 per cent LTV has been cut to 3.89 per cent from 3.99 per cent. 

Five-year fixed short-term let offerings at 65 per cent LTV are now 3.94 per cent from 4.04 per cent and at 75 per cent LTV, the rate is 4.54 per cent from 4.64 per cent 

Foundation has also extended all end dates to the 31 January 2023 for two-year deals and 31 January 2026 for five-year products. 

Jeff Knight, director of marketing at Foundation Home Loans, said: “Foundation is on course to achieve a record quarter for new business. Our sales team are receiving record levels of enquiries but we continue to provide a reliable service to intermediaries.  

We are building on this success with these rate reductions to our core range to ensure we support existing brokers further and support the growing number of new brokers we have recently onboarded too.” 

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