Foundation Home Loans has cut rates on several of its 80 per cent LTV residential products and introduced two new 85 per cent LTV products.

The specialist lender’s two new 85 per cent LTV standard residential products come with a two-year fix priced at 4.34 per cent and a five-year fix priced at 4.69 per cent, both with a fee of £995.

Additionally, existing 80 per cent LTV product rates in its near-mainstream range for both standard and first-time buyer clients have been cut. These cover the following:

• Two-year fix cut from 3.79% to 3.64% and five-year fix cut from 4.29% to 4.04% with a £995 fee
• Two-year 1.55% discount now with a current rate of 3.54%, down from 3.69% with a £995 fee
• First-time buyers only: two-year fix cut from 3.89% to 3.79% and five-year fix cut from 4.39% to 4.19%, both with a £595 fee

The lender’s residential range is designed for borrowers with complex income and employment such as the recently self-employed and those looking to optimise their affordability.

Foundation Home Loans commercial director George Gee says: “With 2020 having a significant impact on many individuals’ income and the financial situation of many existing borrowers, we anticipate an increased number of clients will require specialist residential finance.”