Foundation Home Loans has made enhancements to its Property Plus range, including the addition of short-term lets, rate reductions and removal of its £100k minimum loan size threshold.

The new Short-Term Let (STL) Plus products are aimed at properties being let on a short-term basis, through platforms such as Airbnb, or for use by contractors, tradespeople and remote workers seeking flexible and cost-effective accommodation.

The new STL Plus rates include both two- and five-year fixed rate options, available up to 75% loan-to-value (LTV), with rates starting from 6.89% and come with a 2% fee.

The lender has also updated its existing Property Plus and Houses of Multiple Occupation (HMO) Plus ranges.

The Property Plus two-year fixed rate, has been reduced by 0.10%, down to 6.84%, with a 2% fee, while the five-year fixed rate has been lowered by 0.05% to 6.74%.

The Property Plus two- and five-year Fixed Flex options, with a 2.75% fee, now have rates of 6.74% and 6.59% respectively.

And the HMO Plus two- and five-year fixes, with a 2% fee, have 0.10% and 0.05% reductions, with rates at 6.94% and 6.84% respectively.

Foundation has also announced the removal of its £100k minimum loan size Property Plus products.

The lender’s director of product and proposition Tom Jacob says: “We’ve listened to broker feedback and seen first-hand the growing demand for more flexible solutions in the specialist buy to let space.”

“Short-term lets are one of the fastest-growing property types, and by formally introducing them into our Property Plus proposition, we’re enabling brokers to serve more landlords with more relevant product options.”

“Removing the £100k minimum loan size across all Plus products was also a logical next step – we’re confident in the quality of cases we receive and want to ensure advisers can offer competitive solutions to clients across the full loan-size spectrum.”

This follows on from last week when Foundation Home Loans announced the successful completion of its Braccan Mortgage Funding 2025-1 deal, securing £550 million of funding.