Foundation Home Loans has made changes to its residential mortgage range, increasing the LTV on its F1 products from 85% to 90%.

The specialist lender has also increased the maximum LTV on its F2 range to 85% and on its F3 range to 80%.

Rates on certain products have been lowered by up to 70 basis points.

Key changes include:

• F1 range – five-year fix at 90% LTV with no product fee, now priced at 4.99% at 90% LTV (from 5.19%).
• F1 range – rate cuts across all five-year fixes with £995 fee, now starting at 3.24% at 65% LTV (down from 3.39%),
• F1 range – the two-year discount product with no early repayment charges has been opened up to 85% LTV borrowers for the first time with a rate of 3.89%, as well as options at 65%, 75% and 80% LTV.
• F1 range – there have also been cuts by up to 50 basis points on Foundation’s Green Reward Remortgage products, which provide £750 cashback and a reduced product fee for those borrowers with properties at an EPC rating level of C and above. Rates on the two-year fix options now start at 3.19% at 75% LTV (down from 3.24%).
• F2 range – for borrowers with client blips – pricing has been cut across its fixed rates and variable rates, including a cut of 70 basis points for its 80% LTV five-year fix which is now 3.89%, down from 4.59%.
• F2 – new two- and five-year fee-assisted fixes have been launched with a fee of £595 with product options now up to 85% LTV for both. These are available for both purchase and remortgage borrowers and come with one free valuation and no application fee.
• F3 range – new 80% LTV products at 4.29% fixed for 2 years and 4.49% fixed for five years.

Foundation Home Loans commercial director George Gee says: “We anticipate there will be a growing number of potential first-time buyers coming to market looking for specialist residential products and this is a range which now fully caters for that borrower demographic.

“A major focus for Foundation this year is our specialist residential offering and we believe this refreshed range offers a considerable amount of competition for advisers and a wealth of product options for those borrowers who have a range of specialist needs such as multiple or complex income streams, are self-employed, or who have historical credit issues.”