Foundation has added a limited-edition two-year buy-to-let remortgage at 4.99 percent for borrowers at up to 75 percent loan-to-value, according to its updated product guide. The F1 product carries a 4 percent fee, has a maximum loan of £1.5 million and is available only for remortgages.
The lender’s guide, last modified on 7 October, also lists a five-year F1 remortgage at 5.84 percent with a 5 percent fee. Both options include no application fee, one free standard valuation and £250 cashback, but they come with early repayment charges.
These are high-fee specialist products rather than a simple headline-rate cut. A landlord approaching a refinance should compare the fee, cashback and exit charges against the balance, term and expected holding period before treating 4.99 percent as the cheaper option.
Buy-to-let rates and fees in Foundation’s new range
The two-year fixed deal has early repayment charges of 3 percent in year one and 2 percent in year two. The five-year option has charges that step down from 5 percent in the first year to 1 percent in the fifth. Both revert to the lender’s base rate plus 4.99 percent after the fixed period, the guide says.
The products sit in Foundation’s F1 range, which the lender describes as being for clients with an almost clean credit history. They are not purchase products, and the 75 percent LTV ceiling means a borrower needs at least 25 percent equity in the property before costs are considered.
Foundation was previously covered by Landlord Knowledge when it relaunched a 3.99 percent buy-to-let remortgage in July. The new products cost more at the headline rate and carry much larger fees, which illustrates how a lender’s advertised rate alone can give an incomplete comparison.
Cashback does not remove the need to compare total cost
The £250 cashback and free valuation reduce some upfront costs, but a 4 percent fee on a £200,000 loan would be £8,000. The five-year alternative’s 5 percent fee would be £10,000 on the same balance. Whether either deal is suitable will depend on the mortgage size, projected interest saving and the likelihood of repaying or switching before the fixed period ends.
The range is aimed at a different need from the 75 percent LTV trackers that LendInvest listed this month with no early repayment charges. A tracker can bring rate uncertainty, while Foundation’s fixed products offer payment certainty for the chosen term. Neither comparison removes the need to check eligibility and total cost.
Foundation’s current buy-to-let product guide sets out the rates, fees, loan limit, cashback and early repayment charges. It is the relevant source for brokers and landlords because lender ranges can change or be withdrawn.
This follows Landlord Knowledge’s July report on Foundation’s 3.99 percent remortgage, which gave landlords a lower-rate refinance option at the time. The latest guide points to a more targeted offer: fixed payment certainty at 75 percent LTV, but with fees that require a full pounds-and-pence comparison.
What this means for landlords
- If you are remortgaging at 75 percent LTV: compare the 4 percent or 5 percent product fee against the interest saving over the fixed term, not the rate alone.
- Watch for: early repayment charges of 3 percent then 2 percent on the two-year deal, and 5 percent down to 1 percent on the five-year deal.
- Check eligibility: these are F1, remortgage-only products with a £1.5 million maximum loan and Foundation’s credit criteria still apply.
- Bottom line: the cashback and valuation support may help with upfront costs, but they are small beside the stated percentage fees on larger balances.
Editor’s view
Foundation has made the trade-off unusually plain: a sub-5 percent fixed rate in exchange for a substantial fee. Landlords should ask their broker for the cash cost over the period they genuinely expect to hold the loan, including any realistic chance of an early exit.
Author: Editorial Team – UK landlord & buy-to-let news, policy, and finance
Published: 09 October 2026
Sources: Foundation Home Loans buy-to-let product guide
Related reading: Foundation relaunches 3.99% remortgage for landlords
