Foundation Home Loans is cutting prices across its product range for both individuals and limited companies.

Among the rate cuts, it is reducing its 80 per cent loan-to-value two-year fix by 20 basis points from 4.29 per cent to 4.09 per cent.

The deal is available to F1 borrowers – those with an almost clean credit record.

Within its houses in multiple occupation range Foundation is making substantial reductions.

Five-year fixes at 75 per cent LTV for properties with up to six occupants have been cut by 60 basis points from 4.54 to 3.94 per cent.

The rate for larger HMOs with up to eight bedrooms and blocks with a maximum of 10 units has reduced from 4.64 to 4.04 per cent.

All multi-unit blocks to a maximum of 10 units. 

Rates at 65 per cent LTV  have also been reduced by 25 basis points

Foundation has also trimmed two and five-year fixed rates at 65 per cent and 75 per cent LTV by 10 basis points.

End dates on two-year deals have been extended to January 31, 2023 and to January 31, 2026 for five-year deals.

Foundation Home Loans director of marketing Jeff Knight says: “Foundation is on course to achieve a record quarter for new business. 

“Our sales team are receiving record levels of enquiries but we continue to provide a reliable service to intermediaries. 

“We are building on this success with these rate reductions to our core range to ensure we support existing brokers further and support the growing number of new brokers we have recently onboarded too.”