FHL announces rate cuts

FHL announces rate cuts




Buy-to-let (BTL) lender Foundation Home Loans (FHL) has announced that it has cut rates across its product range and simplified its criteria.

Rates have been reduced by up to 0.8% and FHL’s arrangement fee has been simplified to a universal 2% of the loan amount across the range.

Paul Brett, business development director at FHL, commented: “Our partners are telling us that they expect a positive core of BTL inquiries running into the end of the year, even though there has been a dip in activity in the wake of the [stamp duty change].

“It is important that at FHL we are always looking at ways to provide the most cost-effective funding to ensure that there is encouragement for landlords to continue investing.

“Our move on cutting rates is matched by the further simplification to criteria.

“In this case, arrangement fees are now simply set at 2%, regardless of loan size.

“Along with the successful deployment of the first stage development of our online portal for inquiry and application, which has received plenty of positive feedback, FHL’s BTL proposition offers our introducers and their landlord clients significant benefits.”

Leave a comment