Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.

Foundation Home Loans Revamps Buy-to-Let Range with New Products and Rate Cuts

Foundation has updated its buy-to-let (BTL) mortgage range, introducing new products and reducing rates across almost all existing BTL deals. The changes include new remortgage-only products, first-time buyer and landlord options, and fee removals on selected higher loan-to-value (LTV) products.

The lender has launched remortgage-only products at 65% LTV, with rates set at 6.09% for F1 lending and 6.29% for F2. For first-time buyers and landlords, a two-year fixed rate at 75% LTV is available at 6.39% for F1 borrowing. The two-year fix at 65% LTV for F2 stands at 5.99%.

Foundation has also introduced two-year fixed rate products for houses in multiple occupancy (HMO) and multi-unit freehold blocks (MUFB) at 65% LTV, priced at 6.14% and 6.19% respectively. The Property Plus offering, designed for landlords purchasing or refinancing properties that do not meet standard high street lending criteria, is available at 6.59% for a five-year fix up to 75% LTV.

In addition to these new products, Foundation has reduced rates across almost all of its existing BTL products by up to 35 basis points. The firm has also removed fees on selected 80% LTV deals, aiming to lower upfront costs for landlord borrowers requiring higher LTVs.

According to Foundation, these changes are intended to support a range of landlord circumstances, borrower profiles, and property types, while providing a wider selection of specialist lending options.

These updates may be of interest to UK letting agents and inventory clerks, as they could impact landlord clients considering new purchases, remortgages, or portfolio expansions.