Foundation Home Loans has added two products at the 85% LTV tier.

In addition, the lender has reduced rates across residential products at its 80% LTV tier.

The new products include a 2-year fix at 4.34% and a 5-year fix at 4.69%, both with a fee of £995.


Mortgage availability at 11-month high

Looking to rate reductions, the 2-year fix has been from 3.79% to 3.64%, and the 5-year fix cut from 4.29% to 4.04%, with a £995 fee.

The 2-year 1.55% discount is now set at 3.54%, down from 3.69%, with a £995 fee

For first-time buyers only, the 2-year fix has been cut from 3.89% to 3.79% and the 5-year fix from 4.39% to 4.19%, both with a £595 fee.

George Gee, commercial director at Foundation Home Loans, said: “There is undoubtedly a growing demand in the residential space, and Foundation is looking to meet this demand with keen pricing on our near-mainstream 80% LTV rates, and the introduction of two new options at 85% LTV.

“With 2020 having a significant impact on many individuals’ income and the financial situation of many existing borrowers, we anticipate an increased number of clients will require specialist residential finance.

“Our full, highly-competitive, residential range is available to both purchasers and remortgagors who do not meet stricter mainstream mortgage criteria and individuals who have historical credit blips.”