Home ResidentialBuy-to-let FHL cuts buy-to-let rates across all product tiers

FHL cuts buy-to-let rates across all product tiers

by LLP Finance Reporter
17th Sep 20 1:25 pm

Foundation Home Loans (FHL) has announced on Thursday a wide range of buy-to-let rate reductions across all product tiers and property types, with the new offering available to both individuals and limited companies.

An 80% loand to value (LTV) two-year fixed-rate has been reduced by 20 basis points from 4.29% to 4.09%; available to F1 borrowers – those with an almost clean credit record.

HMO five-year fixed rates have seen reductions of 60bps at 75% LTV, down to 3.94% from 4.54% for properties with up to six occupants, and down to 4.04% from 4.64% for larger houses of multiple occupiers (HMOs) with a maximum of eight bedrooms and all multi-unit blocks to a maximum of 10 units. 65% LTV rates have also seen reductions of 25 basis points.

Short-term let products have been reduced by 0.10%, with two-year fixes now available from 3.49% at 65% LTV and 3.89% at 75% LTV, and five-year rates starting from 3.94% at 65% LTV and 4.54% at 75% LTV.

Foundation has also extended all end dates to the 31 January.

Jeff Knight, director of marketing at Foundation Home Loans said, “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 onboarded too.”

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