Foundation Home Loans has launched a new discounted product with no early repayment charges.

The ‘limited edition’ offering comes at up to 75% LTV and provides a discount of 2.40%, giving an initial rate of 2.69%.

It charges a 2% product fee and comes with a free valuation and charges no application fee.

Both individual landlords and portfolio landlords may apply for a loan of up to £1m.

Foundation Home Loans commercial director George Gee says: “For landlords who are looking for a low rate now but the freedom to respond to possible base rate rises, this sub 3% rate should remain competitive even if we start to see moderate brank rate increases over the course of Q4.”

This time last week, Foundation issued new green mortgages for owner-occupiers and landlords.