Intermediary-only specialist lender, Foundation, has cut buy-to-let rates by up to 0.10% across selected products. Its buy-to-let rates now start at 4.99% at 75% loan-to-value (LTV).
The lender also changed its holiday let criteria, allowing owners to live in their properties for up to 60 days a year.
The changes include:
- Selected buy-to-let products across the F1 and specialist ranges, reduced by up to 0.10%, with rates from 4.99% at 75% LTV.
- F2 Holiday Let two-year and five-year fixed products, each reduced by 0.10%, with rates of 6.64% (two-year) and 6.74% (five-year) at 75% LTV with a 2% fee.
The announcement follows a series of changes last week across Foundation’s buy-to-let and residential ranges. These included two new Limited Edition remortgage-only products and rate reductions on its 90% LTV residential products. Foundation says the latest changes widen the buy-to-let products available to intermediaries.
“Following our announcement just last week, we are pleased to announce further enhancements across our range, including rate reductions and a really exciting upgrade to our Holiday Let criteria,” said Grant Hendry, director of sales at Foundation (pictured). “This move strengthens what is already a very popular product range among intermediaries and their clients.
“These enhancements further demonstrate our commitment to make positive changes to our products as soon as the opportunity presents itself. We continue to stay close to the market to ensure our product range remains competitive and able to support the broad requirements of intermediaries, landlords, property investors and borrowers. As ever, we pair this with the service, flexibility and manual underwriting that advisers rely on.”
