Foundation cuts buy-to-let rates and lowers minimum property value

Foundation has announced a refresh of its buy-to-let mortgage range, including rate reductions of up to 0.25% across a wide range of products. 

F1 buy-to-let standard products have reduced by up to 0.25%, including ERC3 and remortgage-only options.

The majority of Foundation's standard HMO have decreased by up to 0.25%, with all MUFB rates also down by up to 0.25%.

In addition, all short-term and holiday let rates have reduced by up to 0.20% and all Property Plus rates by 0.10%.

Finally, the majority of expat rates have reduced by up to 0.20%.

Alongside the rate reductions, Foundation has reduced its minimum buy-to-let property value to £70,000. For properties valued between £70,000 and £75,000, the maximum available LTV is 75%.

Grant Hendry, director of sales at Foundation, commented: "This significant buy to let refresh reflects our determination to provide brokers with both greater choice and stronger pricing across a wide range of landlord scenarios.

"We have reduced rates across almost the entire buy-to-let range. Combined with reducing our minimum buy-to-let property value to £70,000, these changes provide brokers with more ways to support their landlord clients.

"Several products now sit in highly competitive positions within the market, including products that are at or near the top of the sourcing tables in their respective categories. As a specialist lender, our focus remains on responding quickly to market opportunities and ensuring advisers have access to solutions that meet the diverse needs of today's landlords, whether they are purchasing, remortgaging, expanding portfolios or investing in more specialist property types."