Foundation Home Loans has launched a range of buy-to-let (BTL) mortgages. 

The lender has reduced its F1 75% two-year discount rate by 25 basis points, with rates of 4.19% for 75% loan-to-value (LTV) and 4.74% for 80% LTV.

It has also introduced new discount rates at 75% LTV for standard applicants, those seeking to purchase/refinance standard houses of multiple occupancies and short-term lets.

Foundation has also reintroduced its F1 five-year fix early remortgage product, allowing landlord borrowers to remortgage within six months of the initial purchase. 

The entire BTL product range has been replaced except for the withdrawn two-year fixed-rate mortgages.

Foundation Home Loans managing director George Gee says: “Our decision to replace our BTL mortgage product range was not taken lightly, but in the context of what is happening within the markets right now, and in order to respond to that and to the changes made by our lender peer group, we needed to act.”

“We hope that by providing as much notice as possible to advisers, they will be able to convert their decision in principles into full mortgage applications and secure the previous product pricing before we replaced the whole range this morning.”

Earlier this week, Foundation reappraised its residential mortgage credit tiers.

The reappraisal sees the introduction of a new F4 product tier and changes to the permitted credit events in its F1, F2 or F3 products based on when they occurred.