It reduces rates by up to 45bps
Specialist lender Foundation Home Loans has reduced rates across both its buy-to-let and owner-occupied core product ranges.
The intermediary-only lender has made rate cuts of up to 30 basis points on its buy-to-let core product range, with its F1 – for clients with an almost clean credit history – green five-year fixed-rate mortgage rates now starting at 6.29%. These come with a 1.25% fee, free valuation, and no application fee.
In its owner-occupied core product range, Foundation has reduced its F1 – for those who just miss out on the mainstream – green two- and five-year fixed rate products by up to 45bps, with rates starting at 6.74%, and available with £750 cashback and a fixed £795 fee.
The lender has also made rate changes to its remortgage-only, professionals and key worker F1 products, with rates again reduced by up to 45bps.
Similar price reduction has been made to two- and five-year fixes for all other borrower tiers: F2 – those with recent credit blips, F3 – those with credit problems in the last 12 months, and F4 – those with no significant adverse in the last six months.
“Over the past couple of weeks, we have focused on refreshing both our buy-to-let and owner-occupier specials products, and now we are able to announce a full review of our core ranges, making rate cuts of up to 30 basis points for buy-to-let and up to 45 basis points for owner-occupier borrowers,” stated Tom Jacob (pictured), director of product and marketing at Foundation Home Loans.
“This is a positive range of rate cuts across a wide array of products, and we believe these will offer advisers with specialist clients access to the finance they need, at a reduced price.”
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