Foundations eesidential 2-year fix at 65% (loan-to-value) LTV is now priced at 2.89% ( down from 2.99%) and 75% LTV at 3.19% (from 3.29%); 5-year fix at 65% LTV now 3.39% (from 3.49%) and 75% LTV at 3.54% (from 3.69%). Products come with a £995 fee.

Fee-assisted residential remortgages include a 2-year fix at 65% LTV now 3.19% (from 3.49%) and 75% LTV at 3.39% (from 3.89%); 5-year fix at 65% LTV now 3.59% (from 3.99%) and at 75% LTV 3.79% (from 4.29%). These products come with a reduced £595 fee, no application fee, a free standard valuation and £250 cashback upon completion.

The lender has also cut rates on its two and 5-year buy-to-let fixed-rate mortgages. Its 2-year fixed rate which now starts at 2.89% up to 65% LTV (down from 3.09%) and its  5-year fix up to 75% LTV which has been reduced to 3.34% from 3.44%. Its 80% LTV 2-year fixed-rate product which now has a sub-4% rate of 3.99% (down from 4.09%).

Additionally, the 5-year buy-to-let fixed rate for large loans over £500,000 up to 65% LTV with a 2.25% fee has been reduced by 0.10% to 3.09%; and the buy-to-let two and 5-year remortgage Specials with a 1% product fee have also been reduced, now starting from 3.29% (65% LTV) and come with incentives including no application fee, a free standard valuation and £250 cashback upon completion.

George Gee, commercial director at Foundation Home Loans, said: “We have taken this opportunity to make our ranges even more competitive for both landlords and residential borrowers, by cutting a number of our two and 5-year fixes by up to 50 basis points.

“In the residential range particularly, this is an opportunity for advisers who are seeing an increasing number of clients with complex income or multiple income sources, and the self-employed who may have only one-year accounts, to find competitively-priced mortgages combined with flexible criteria. Landlord borrowers will also benefit from cuts to various products including our remortgage specials, our early remortgage offering, and those seeking large loans.”