Foundation Home Loans (FHL) has cut rates across its buy-to-let range and has simplified its criteria.
Rates have been reduced by up to 0.8 basis points, with the light adverse five-year fix now available at 4.39%.
The arrangement fee has been simplified to a set 2% of the loan amount across the range
Paul Brett, business development director at FHL, said: “Our partners are telling us that they expect a positive core of buy-to-let enquiries running into the end of the year, even though there has been a dip in activity in the wake of the loss of stamp duty. It is important that at FHL we are always looking at ways to provide the most cost effective funding to ensure that there is encouragement for landlords to continue investing.
“Our move on cutting rates is matched by the further simplification to criteria. In this case, arrangement fees are now simply set at 2%, regardless of loan size. Along with the successful deployment of the first stage development of our online portal for enquiry and application, which has received plenty of positive feedback, FHL’s buy-to-let proposition offers our introducers and their landlord clients significant benefits.”
