Foundation Updates

07 April 2021

Reduced buy to let rates and new short term let products

We've cut a number of rates across our standard and HMO ranges, and we've launched a new limited edition limited company buy to let five year fix and two new short term let products.

Our new limited company limited edition product is priced at 3.24%, 10 basis points below our core limited company range, with a reduced 1.5% fee and is available up to 75% LTV with a maximum loan amount of £1 million, and ICR calculated at 125% of pay rate.

We welcome portfolio lenders and, there is no limit to the background portfolio size for each borrower, subject to a maximum of £3m with us.

We have also made a series of rate cuts across a number of our buy to let products including:

  • Standard – two-year F2 (for borrowers with some credit blips) 65% LTV reduced to 3.19% from 3.24%, and 75% LTV to 3.34% from 3.39%; five-year F2 fix 65% LTV at 3.39% from 3.44% and 75% LTV at 3.54% from 3.64%. All with a 2% fee.
  • HMO – five-year F2 65% LTV reduced to 3.49% from 3.59% and 75% LTV to 3.64% from 3.74%. Both with a 2% fee.

Our new short term let products are:

  • A two year 65% LTV discount of 1.6% giving a current pay rate of 3.49%, and a 75% LTV 1.2% discount giving a current pay rate of 3.89%.

We've also cut rates on our current short term let products, reducing its five-year fix at 65% LTV to 3.99% from 4.19% and the 75% LTV to 4.29% from 4.79%.

George Gee, our Commercial Director at Foundation Home Loans, says:


“There’s no doubting that the Budget announcement on stamp duty has eased a number of worries about purchase completion, but it has also resulted in an increased activity impetus particularly from landlords.
Landlords continue to seek out properties that can deliver strong yield – hence the focus on HMO and short-term lets – and as a lender active in these areas we want to ensure advisers and their clients have access to a highly competitive range, right across the buy-to-let product space. Along with our flexible criteria and our personal service, we believe this current range will be of huge benefit to many advisers and their landlord clients.”

If any of our new products sound like the perfect fit for a case on your desk, click below. 

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