Foundation Home Loans has lowered rates across its special product rates for owner-occupiers by up to 10 basis points (bps) while fees have been reduced by £500 to £995.

The lender has also launched two new special fee-assisted F1 and F2 five-year fixed products.

These products will be available up to 65% loan-to-value (LTV), with a reduced fee of £795, one standard valuation and no application fee with rates starting from 6.59%.

In its core owner-occupier range, the lender is introducing new five-year fixed-rate products for F1 and F2 borrowers.

It is also adding new two- and five-year fixed Green F1 ABC+ products for properties with an energy performance certificate (EPC) rating of C and above.

As part of the changes, 80% LTV products for owner-occupiers will be reintroduced for F1 and Green F1 borrowers, with rates starting at 7.19% fixed for two years.

For buy-to-let (BTL) products, Foundation is reducing selected special product rates and fees; two-year fixed-rate specials have seen their product fees reduced from 2% to 1%.

Meanwhile, the lender’s F1 five-year fixed, 65% and 75% LTV specials have seen cuts up to 10bps, with rates starting at 5.94%.

Foundation Home Loans managing director George Gee says: “Much of these changes focus on our special and core owner-occupier products. We believe this provides a greater array of choice, in particular for those existing homeowner borrowers seeking to remortgage and by dropping the fees on those products, it should also help them in terms of keeping those initial costs down.”

“We have been keen to build back up with a broader owner-occupied offering, which is why we’re now offering new 80% LTV products for both F1 and Green F1 borrowers, plus we have the new five-year fixes within our core range.”

Gee adds: “For buy-to-let, where possible, we’ve focused on bringing five-year fixed-rate pricing down, but we’ve also been able to cut fees on our two-year fixed-rate specials, in order to help landlord borrowers with those upfront costs.”