Buy to Let by Foundation, the buy-to-let (BTL) brand for Foundation Home Loans, has lowered BTL rates by up to 0.3%.
For Energy Performance Certificate (EPC) saver products, which come with a free EPC plus document detailing key information on the property along with £1,000 cashback, two- and five-year fixed BTL rates have been cut by up to 0.1%, with pricing starting from 5.84% up to 75% loan to value (LTV). This is in its F1 range, for customers with an almost clean credit history.
Buy to Let by Foundation’s fee-assisted remortgage-only five-year fixed rate has fallen by up to 0.25%, with rates starting at 5.84% and available up to 75% LTV. The products are available in its F1 and F2 range, with the latter aimed at borrowers with some historical blips on their credit rating, and come with a £1,295 fee and £500 cashback.
The firm’s house in multiple occupation (HMO) limited-edition five-year fixed rate has decreased by five basis points, with a new rate of 5.69%. The product comes with a fixed £4,995 fee.
Holiday let two- and five-year fixed rate products have reduced by up to 0.2%, with rates now beginning at 6.34% up to 70% LTV, with a 2% fee.
The lender has also made cuts to other products in the core range including its F1 limited-edition two-year fixed rate, its two-year discount, large portfolio, large loan, first-time landlord HMO, short-term let, and numerous others.
Tom Jacob, director of product and marketing at Foundation Home Loans, said: “There are price cuts across our three product tiers, F1 through to F3, for more specialist property types and those with more recent blips on their credit rating, and in a number of niche areas, such as our EPC saver products, which provide full and comprehensive EPC information for a landlord.
“Additionally, there are pricing improvements across the remortgage-only products, mortgages for those seeking larger loans, or those who are seeking to add to, or remortgage, properties within larger portfolios.”
He added: “Our focus is always on both price competitiveness, but also ensuring we have the widest range of specialist products for those landlord and property niches that many borrowers are now fully engaged with, and who require specific mortgage criteria depending on their needs and circumstances.
“This is a full core product review with multiple changes across multiple products, so we would urge advisers to look at the new product guide for full details, engage with our sales team representatives, and to speak to us about how we can best support the needs of their landlord borrowers.”
Buy to Let by Foundation previously lowered BTL rates last week.
Paragon cuts BTL rates by up to 0.2%
Paragon has refreshed BTL rates up to 75% LTV, with 3%, 5%, £2,995 and no-fee options available.
Pricing starts from 4.6% for a two-year fixed rate for purchase and remortgage with an EPC rating from A to C. Interest coverage ratios (ICRs) are calculated at initial rate plus two percentage points.
Five-year fixed rates start from 5.45% for homes with an EPC rating between A and C, and go up by five basis points for properties with an EPC rating of D or E.
The £2,995 fee deal is available at 75% LTV, up from 65% LTV, for or purchasing or remortgaging HMOs and multi-unit blocks (MUBs).
The lender will also offer a 5% fee deal at 4.74%.
ICRs on the five-year fixed rate mortgages are calculated at 5% on the products, subject to a 5% fee and aligned to initial rates on the £2,995 and nil-fee options.
Louisa Sedgwick, managing director for mortgages at Paragon Bank, said: “An improving economic outlook gives us the opportunity to carry out a positive refresh of our range, taking up to 20bps off 20 products. We’ve also simplified our offering, and borrowers can choose from deals with nil product fees, percentage fees or a flat fee of £2,995.
“This provides some attractive options for landlords, such as our £2,995 fee product, which has no maximum loan cap so is available for loans up to £4m on SSC/HMO/MUB properties. This is a great choice for larger loans and will appeal to a greater proportion of landlords now we have raised the LTV to 75%.”
LendInvest lowers BTL rates with sub-4% deals available
LendInvest has lowered its BTL rates, with pricing starting from 3.69%, the lowest so far this year.
The BTL rates come with an additional discount of up to 0.1% across the BTL range.
The deals go up to 80% LTV and are available to individuals, limited companies or those looking to incorporate.
The range can also cater for HMOs with up to 15 bedrooms and MUFBs with up to 10 units.
Sophie Mitchell-Charman, commercial director at LendInvest, said: “We are thrilled to introduce our lowest buy-to-let rates of the year, which reflect our commitment to supporting landlords with the most competitive products available in the market. Our new mortgage rates are designed to provide immediate financial benefits to landlords, helping them manage their portfolios more effectively.
“Whether they are first-time landlords or managing larger, more complex portfolios, our tailored products offer flexibility and support to meet their unique needs.”
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
