Foundation has relaunched of a number of products withdrawn earlier this year and made rate cuts to MUFB and holiday let products.
The changes include the return of the lender’s ERC3 fixed-rate product, which only has early repayment charges for three years of the five-year term, alongside a mix of new standard and specialist mortgage options.
The updated range includes the F1 and F2 remortgage-only, five-year fixed rate products, available at 75% LTV.
The F1 rate is 6.44%, while the F2 is 6.54% and both products come with a free standard valuation and £500 cashback, plus no application fee.
In addition, the range will include the F1 ERC3 five-year fix to 75% LTV, with a rate of 6.39% and a 1.5% fee and an F1 EPC Saver five-year fix at 75% LTV, with a rate of 6.49% and a 1.25% fee.
The product includes £1,000 cashback and a free Vibrant energy saving audit.
There is also an F2 short term let five-year fix, available at 75% LTV, with a rate of 6.74% and a 1.25% fee, plus no application fee and a free standard valuation.
Rates have also been reduced on the MUFB five-year fixed at 75% LTV, which has been lowered by 0.15% to 6.09%, with a £4,995 fee and the holiday let five-year fixed at 75% LTV, which has been trimmed by 0.10% to 6.24%, also with a £4,995 fee.
Foundation director of sales Grant Hendry says: “We’ve moved quickly to respond to changes in the market and continue to try and make sure brokers have access to a strong and relevant set of options for their landlord clients.”
“We think the return of the ERC3 five-year fixed-rate will be particularly welcome. It’s a product that has been consistently popular with brokers, especially for landlord clients who want a balance between early repayment flexibility and longer-term certainty.”
“At the same time, we’ve widened our support for specialist property types, including short-term and holiday lets, which remain an important and active part of the market.”
“Alongside this, the rate reductions on our MUFB and holiday let products show our intent to stay competitive and support brokers with cases that can often be more complex to place.”
