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TODAY'S OTHER NEWS

Foundation reduces buy-to-let rates

Foundation Home Loans has cut its buy-to-let rates across all product tiers and property types.

Foundation’s 80% loan-to-value (LTV) two-year fix has been reduced from 4.29% to 4.09% and is available to F1 borrowers.

Looking to HMO product types, the 75% five-year fix is now available at 3.94% for properties with up to six occupants, down from 4.54%, while its products for eight properties bedrooms and all multi-unit blocks to a maximum of 10 units now start 4.04%, down from 4.64%. 

Rates on products within Foundations short-term let range have also fallen, with the 65% two-year fix reduced from 3.59% to 3.49% and the 75% LTV five-year fix from 4.64% to 4.54%.

The new offerings are available to both individuals and limited companies.

Jeff Knight, director of Marketing at Foundation Home Loans, commented: “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 on-boarded too.”

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