Foundation Home loans has launched a new limited company product, two short-term products let and cut rates.

The limited company product is available at up to 75 per cent LTV on a five-year fix at 3.24 per cent. The interest coverage ratio is 125 per cent of pay rate.

The new short-term let products comprise a 65 per cent LTV two-year discount giving an initial rate of 3.49 per cent and a 75 per cent LTV two-year discount with an initial rate of 3.89 per cent.

Rate cuts include reductions of up to 10 basis points across the lender’s standard and HMO buy-to-let range and cuts of up to 50 basis points within its short-term let range – the highlight here being the75 per cent LTV five-year fix going from 4.79 per cent to 4.29 per cent.

Foundation Home Loans commercial director George Gee says: “There’s no doubting that the Budget announcement on stamp duty has eased a number of worries about purchase completion, but it has also resulted in an increased activity impetus particularly from landlords.

“Landlords continue to seek out properties that can deliver strong yield – hence the focus on HMO and short-term lets – and as a lender active in these areas we want to ensure advisers and their clients have access to a highly competitive range, right across the BTL product space. Along with our flexible criteria and our personal service, we believe this current range will be of huge benefit to many advisers and their landlord clients.”