Buy to Let by Foundation has lowered rates in its specialist range for F1 borrowers, aimed at clients with an almost clean credit history, and F2, for clients financing a more specialist property type.
The firm’s F1 special portfolio landlord-only rates with a 6% fee have been cut by 0.25% to 4.59%, while its F1 special fee-assisted portfolio landlord-only with a 5% fee rate has fallen by 0.15% to 4.84%.
The company’s F1 special two-year fixed rates have been reduced by up to 0.35% to 4.24% with a 4% fee and 4.74% with a 3% fee.
Its F2 house in multiple occupation (HMO) special two and five-year fixed rates have been decreased by 0.35% and 0.25% respectively to 4.79% and 5.29% with a 3% fee.
F1 limited edition products have also been lowered, including its two-year fixed rate with a 1.25% fee falling to 5.55% and its green ABC+ five-year fixed rate decreasing to 5.34%.
The firm has also brought out a five-year fixed rate with a £2,495 fee priced at 5.54%.
Within Residential by Foundation, F1 and F2 two- and five-year, fee-assisted fixed rates have been lowered, with F1 deals starting from 5.94% and F2 deals beginning from 6.14%.
Tom Jacob, director of product and marketing at Foundation Home Loans, said: “Clearly, we are in a period of significant movement when it comes to product rates, and we’re very pleased to be able to announce these rate cuts across our special and limited edition buy-to-let mortgages, as well as a number of residential two- and five-year fixed-rates.
“In the buy-to-let space, we are providing both competitive rates and a wide choice of fee arrangements to provide advisers and their landlord borrowers with the ability to meet affordability in a variety of ways, and to choose the fee structure that works best for them.”
He continued: “A number of these product cuts are specifically aimed at portfolio landlords, while we also have both special rates for all landlord types plus those specifically looking to remortgage or finance HMOs, and within our limited edition range a product for those who are borrowing against a property which already has an EPC level of C or above.
“For specialist residential borrowers we have been able to cut rates on both two- and five-year fixes in both our F1 and F2 tiers, and again we are opening up more competitive options for those borrowers who currently miss out on the mainstream.
“Overall, whether you have a landlord client looking to expand or refinance their portfolio, or you have residential borrowers who require specialist underwriting, we have plenty to offer with today’s price cuts and the rest of our range.”
Saffron BS lowers owner-occupier rates by up to 0.4%
Saffron Building Society has reduced owner-occupied rates by up to 0.4% with pricing beginning from 4.17%.
Its two-year fixed rate at 80% LTV is 4.67% and the equivalent five-year fixed rate is 4.17%. Going up to 85% LTV, its two-year fixed rate at 85% LTV is 4.77% while its five-year equivalent is 4.37%.
All come with a £999 fee.
Tony Hall, head of business development at Saffron for Intermediaries, said: “The mortgage market is in a really positive place right now, and as a result, we are delighted to announce these rate reductions across our owner-occupied range.
“With the cost-of-living continuing to squeeze the finances of homeowners and prospective buyers, these new rates aim to help make the process of buying or moving home more affordable.
“The announcement follows the launch of our professional product range at the beginning of the month, and new criteria in August, all of which supports our ambition to help as many people as possible achieve their home ownership goals.”
