Foundation Home Loans cuts rates and Masthaven revises bridging range

Across its residential range, the two-year fix at 65 per cent loan to value (LTV) has been cut from 2.99 per cent to 2.89 per cent and the 75 per cent LTV offering has been reduced from 3.29 per cent to 3.19 per cent. 

The five-year fix at 65 per cent LTV has reduced by 10 bps to 3.39 per cent while the 75 per cent LTV product has been cut to 3.54 per cent from 3.69 per cent. These products have a £995 fee. 

Its fee-assisted remortgages have also seen reductions including the five-year fix at 65 per cent LTV which has gone down from 3.99 per cent to 3.59 per cent. 

These products come with a reduced £595 fee, no application fee, a free standard valuation and £250 cashback.  

For buy-to-let borrowers, the lowest two-year fixed rate is the deal at 65 per cent LTV which now has a rate of 2.89 per cent, down from 3.09 per cent.  

George Gee, commercial director at Foundation Home Loans, said: “We have taken this opportunity to make our ranges even more competitive for both landlords and residential borrowers, by cutting a number of our two and five-year fixes by up to 50 basis points.”  

Gee added: “In the residential range particularly, this is an opportunity for advisers who are seeing an increasing number of clients with complex income or multiple income sources, and the self-employed who may have only one-year accounts, to find competitively priced mortgages combined with flexible criteria. 

“Landlord borrowers will also benefit from cuts to various products including our remortgage specials, our early remortgage offering, and those seeking large loans.” 

Masthaven makes changes to bridging range 

Masthaven Bank has revised its bridging range with the addition of refurbishment products and mini bridges.  

The refurbishment range includes a heavy refurbishment option with tailored pricing for different projects.  

There is also a mini bridge product for loans between £200,000 and £300,000, designed for smaller borrowing amounts which need to be deployed quickly. 

Alan Margolis, director of bridging at Masthaven, said: “During the pandemic, bridging has been a vital tool for homebuyers looking to complete purchases quickly, but responsibly.  

“As we navigate a third national lockdown and enduring economic uncertainty, adapting our product offering is vital.” 

“At Masthaven, we want to respond positively to changes in the market and rising demand. These latest updates to our bridging range will allow us to be competitive in the market and offer great service as we work collaboratively during this challenging time,” he added.