FOUNDATION HOME LOANS REDUCE RATES BY UP TO 180BPS ACROSS THEIR BUY TO LET AND RESIDENTIAL CORE PRODUCT RANGES
As of today, Friday 17th February 2023, Foundation Home Loans have made reductions of up to 1.80% to some of their residential and buy to let products for purchase and remortgage.
In the owner-occupier range, Foundation has made rate reductions of up to 150 basis points (bps) to its current core fixed-rate offering across its four residential tiers – F1 to F4.
Foundation has also improved the rate on its owner-occupier Green ABC+ product for properties with an Energy Performance Certificate (EPC) rating of C and above. This is now priced at 6.44% – previously 7.89%. Foundation said the change was to provide a further saving for potential customers who were seeking to finance or refinance qualifying properties.
For buy-to-let, Foundation has made rate reductions of up to 180 bps, across its current five-year Green product range – again for properties with an EPC rating of C and above – covering both F1 and F2 tiers. F1 is for borrowers with an almost clean credit history and F2 for those with a more specialist property type and/or those with some historical blips on their credit rating.
Foundation is also introducing two new Green two-year discount products, in both the F1 and F2 tiers, with rates from 6.49%, offered with a free valuation, no application fee, and the benefit of no early repayment charges (ERCs) with the discount.
NEW residential rates include:
- 2 year Residential fixed and discount rates across our F1-F4 credit tiers
- Green Discount rate of 6.44% with £995 fee up to 75% LTV
- Discount rates from 6.44% (reversion – 2.55%) with £1,495 fee
- Fixed rates from 7.14% with £995 fee
- Maximum loan size of £1m at 75% LTV
- Maximum loan size of £2m at 65% LTV
Check out the latest residential product guide today.
NEW buy to let rates include:
- New Green buy to let fixed and discount rates – from 6.44% with 1.25% fee
- Free standard valuation and no application fee
- New discounts for F1, F2, HMO, MUB and short term let
- Up to 75% LTV
- Available for both individuals and limited companies
- Maximum loan size of £1.5m
Check out the latest buy to let product guide today.
George Gee, Managing Director (Commercial) at Foundation Home Loans, said:
“We are pleased to be able to cut rates across a large number of both our owner-occupier and buy-to-let products, and for a number these are significant 150 and 180 basis point drops.”
“We’re also keen to continue our strong level of support for Green mortgages, which means a significant cut in rate to our owner-occupier Green product, cuts to Green fixed-rate options for landlord borrowers, and the introduction of two new Green discount products which come with a free valuation and no application fee, and no ERCs.”
“Overall, we believe these rate cuts, and the introduction of a variety of new discount products, means advisers and their specialist borrower clients have a greater array of product choice to meet their needs.”