Residential and BTL rates reduced: Foundation Home Loans

Residential and BTL rates reduced: Foundation Home Loans caption

Foundation Home Loans has reduces rates on selected products across its residential and BTL rates by up to 50 basis points.

It is reducing the cost of a number of two-year and five-year fixes in its residential range.

On its two-year fixes, Foundation will now charge a rate of

  • 2.89 per cent down from 2.99 per cent (at 65 per cent LTV)
  • 3.19 per cent, down from 3.29 per cent(at 75 per cent LTV)

On its five-year fixes, it will charge

  • 3.39 per cent down from 3.49 per cent(at 65 per cent LTV)
  • 3.54 per cent down from 3.69 per cent (at 75 per cent LTV)

All these products come with a £995 fee.

If you need further advice on reductions in Residential and BTL rates, please call us. Our mortgage broker will be delighted to offer you a free initial consultation.

Furthermore. Foundation has also adjusted the prices of its fee-assisted residential remortgages.

On its two-year fixes, it will now charge

  • 3.19 per cent down from 3.49 (at 65 per cent LTV )
  • 3.39 per cent down from 3.89 (at 75 per cent LTV)

On its five-year fixes, it will charge

  • 3.59 per cent cut from 3.99 per cent to (at 65 per cent LTV)
  • 3.79 per cent cut from 4.29 per cent to  (at 75 per cent LTV)

These products come with a £599 fee. So, no application fee and a £250 cashback offer on completion.

Foundation Home Loans says its residential range is designed to meet the needs of borrowers with complex income or employment such as the recently self-employed. It will also consider a wide range of income types, including 100 per cent of bonus, overtime and/or commission, retirement and investment incomes.

Foundation Home Loans has further adjusted rates on its two- and five-year fixed rate BTL mortgages.

Its two-year fixed rates now start at

  • 2.89 per cent up to 65% LTV.
  • 3.99 per cent (down from 4.09 per cent) up to 80% LTV

It has also reduced its five-year fixed rate to 3.34 per cent from 3.44 per cent (at 75 per cent LTV).

Moreover, Foundation has also announced reductions to its five-year fixed rate for large loans over £500,000 and its BTL remortgage deals.

However, these have seen a rate cut and a reduction to the product fee.

Foundation Home Loans says these products are designed to support landlords looking for a more generous loan for their rent, as ICR is calculated using the pay-rate on five-year fixes, or the national rate of 5.5 per cent for shorter rates, and stress-tested at 125 per cent for limited companies and basic-rate taxpayers, and 145 per cent for others.

Are you a first-time buyer and looking for a mortgage advisor in Leeds? Please contact us on 0113 2488181 to speak to one of our mortgage advisors or click here. 

 

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