Buy to Let by Foundation cuts its BTL mortgage rates

The buy to let brand of Foundation Home Loans, Buy to Let by Foundation, has announced reduced rates on its buy to let products.

The lender is offering competitive rates for both portfolio and non-portfolio landlords, with a new 4.99% five-year fixed-rate mortgage for portfolio landlords.

Rates on existing products have also been reduced by up to 50 basis points with rates starting from 5.74% for portfolio and non-portfolio landlords with an almost clean credit history.

The lender is also lowering rates on its products for those with some historical credit rating ‘blips’ with standard five-year fixes down by 45bps, with rates starting from 5.94%.

Standard HMO five-year fixes have been lowered by 20bps, with rates starting from 6.29%.

‘Access to a range of highly-competitive mortgages’

The lender’s director of product and marketing, Tom Jacob, said: “These BTL changes provide advisers with options for clients who are just outside the mainstream or have some historical credit blips, with access to a range of highly competitive mortgages that match their needs.

“The specialist mortgage market is increasingly important in today’s economy, and the lower rates we are now offering should help borrowers meet their affordability criteria and secure the level of loans they require.”

The lender is also lowering its ‘Portfolio Landlord Only’ five-year fixed rate, which is available up to 75% LTV. Rates start at 4.99% with a 6% product fee.

The standard special two-year fixed rate products have rates starting from 5.34%, and its HMO special two- and five-year fixes have rates starting from 5.39%.

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