Foundation Home Loans has cut rates across its buy to let, core and ‘specials’ range and changed some residential rates as part of product refresh.

The intermediary-only lender has introduced a new 4.99% five-year fixed-rate mortgage for portfolio landlords.

Under its ‘Buy to Let by Foundation’ brand, it’s cut rates on its F1 product range by up to 50bps, available to portfolio and non-portfolio landlords with an almost clean credit history. Five-year fixed rates will now start from 5.74%.

It’s also cut rates on its F2 range by up to 45bps. This range is aimed at those with historical blips on their credit rating; standard five-year fixes start from 5.94%.

As part of its ‘specials’ range, Buy to Let by Foundation has reintroduced its portfolio landlord-only five-year fixed rate. With LTVs up to 75%, rates start from 4.99% and the product has a 6% fee. It has also reduced rates on its F1 standard special two-year fixed rates by 15bps, with rates starting from 5.34%.

The lender is also making changes to its  ‘Residential by Foundation’ brand, with cuts of 10bps to its F1 and F2 special fee-assisted two- and five-year fixes. Rates now starting from 6.44%.

“These BTL changes, plus the reductions to our Residential special fee-assisted products, provide advisers with options for clients who are just outside the mainstream or have some historical credit blips. 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” explains Foundation Home Loans director of product and marketing, Tom Jacob.