Foundation Home Loans has lowered rates across its owner-occupier and buy-to-let (BTL) product ranges.

In the owner-occupier range, Foundation has made rate reductions of up to 150 basis points (bps) to its current core fixed-rate offering across its four residential tiers, F1 to F4.

The lender has also improved the rate on its owner-occupier Green ABC+ product for properties with an energy performance certificate (EPC) rating of C and above.

The new rate is 6.44% down from 7.89%.

Foundation is also introducing two new owner-occupier F1 discount products at both 65% and 75% loan-to-value (LTV) with rates starting at 6.44%, with a £1,495 fee.

For BTL, the lender has made rate reductions of up to 180 bps across its current five-year Green product range covering F1 and F2 tiers.

F1 is for borrowers with an almost clean credit history and F2 is for those with a more specialist property type and/or those with some historical blips on their credit rating.

Green BTL five-year fixed rates are now available up to 75% LTV and will start at 6.44% with a 1.25% fee.

There are Green fixed-rate options for standard properties as well as standard houses of multiple occupancies (HMOs), Large HMOs/multi-unit blocks (MUBs), short-term lets and expat borrowers.

It is also introducing two new Green two-year discount products, in the F1 and F2 tiers, with rates from 6.49%, offered with a free valuation, no application fee, and no early repayment charges (ERCs) with the discount.

In addition, Foundation is introducing new BTL discount products across its F1, F2, HMO, MUBs and short-term lets.

These will be available up to 75% LTV for both individuals and limited company borrowers. Rates start at 6.59% for F1 borrowers.

Foundation Home Loans managing director George Gee says: “We are pleased to be able to cut rates across a large number of both our owner-occupier and buy-to-let products, and for a number these are significant 150 and 180 basis point drops.”

“At the same time, we wanted to open up ERC-free discount product options to both residential and landlord borrowers, which we know in the current rate environment, will have an appeal particularly as they come with no early repayment charge allowing clients to more easily review their finance options over a shorter time period.”

“We’re also keen to continue our strong level of support for Green mortgages, which means a significant cut in rate to our owner-occupier Green product, cuts to Green fixed-rate options for landlord borrowers, and the introduction of two new Green discount products which come with a free valuation, no application fee, and no ERCs.”