Foundation Home Loans has announced a series of product enhancements across its complex buy to let range.

This includes introducing new fixed-rate options, reduced rates, and simplifying fee structures across property segments including HMOs, short term lets, and mixed-use properties.

The changes are aimed at landlord clients with more complex needs such as financing properties above commercial premises, letting on a short-term basis, or purchasing a mixed-use building.

The updated products include:

Property Plus, for commercially adjacent standard buy to let properties requiring more flexible criteria around property type – rates have been cut by 15 basis points (bps) on two- and five-year fixed-rate options, now starting from 6.59% at 75% LTV. A new five-year fixed-rate product has also been added, priced from 6.49% with a 2.5% fee.

HMO Plus, for more complex HMOs with up to six occupants or beds – two- and five-year fixed-rates reduced by 15bps, with rates starting from 6.69% at 75% LTV.

Short Term Lets Plus, for commercially adjacent properties being let on a short-term basis without a standard AST but with affordability assessed using AST criteria – 15bps rate cut applied to two- and five-year fixed-rate options, now starting from 6.74% at 75% LTV.

And Mixed Use, for properties with a mix of residential and commercial elements such as flats above shops or buildings with attached offices or storage – two new fixed-rate products added at 60% LTV (two- and five-year), with rates starting from 6.84%.

The existing 70% LTV two-year fixed-rate has also been cut by 10bps to 7.29%. The product fee has reduced by 0.5% and is now set at 2.5%.

In addition, Foundation has made rate reductions to a number of its buy to let specials:

It’s five-year fixed-rate Special Portfolio Landlord  has been cut by 10bps to 4.69%.

The two-year fixed-rate Special for Limited Company HMO has been cut by 10bps to 4.54%.

The five-year fixed-rate Special for Limited Company MUFBs (maximum of six units) has been cut by 10bps to 5.39%.

And the five-year fixed-rate Special for Short Term Let Limited Company has been cut by 25bps to 5.49%.

Commenting on the changes Foundation Home Loans director of product marketing Tom Jacob said:

“We continue to enhance our complex buy to let offering in line with what brokers are seeing in the market. The need for flexible, fairly-priced options is only growing among professional landlords, whether they are managing more complex HMOs, letting on a short-term basis or financing a mixed-use property.”