Foundation Home Loans has launched a new set of limited-edition buy-to-let mortgage products across its standard, HMO and holiday let ranges, giving landlords a fresh signal that specialist lenders are starting to reprice as wholesale funding conditions ease.
The lender’s new F1 products include a two-year fixed rate at 5.59 percent and a five-year fix at 5.99 percent, both carrying a £3,995 fee. It has also introduced a five-year fixed product in its F2 standard HMO range at 6.24 percent, again with a £3,995 fee, alongside new holiday let deals priced at 6.04 percent for two years and 6.34 percent for five years.
HMO and holiday let options widen
For landlords borrowing against more complex property types, the significance is not just the headline rate. Foundation has chosen to price across three parts of the market at once – mainstream buy-to-let, HMOs and holiday lets – which suggests lenders still see demand from specialist investors despite the wider volatility that has hit mortgage pricing in recent weeks.
That matters because landlords with HMOs or furnished holiday lets often face fewer mainstream choices and steeper pricing. A lender willing to sharpen products in those segments can improve remortgage options for borrowers who would otherwise have to accept higher stress rates, wider margins or reduced loan sizes.
This follows Landlord Knowledge’s report on lenders pulling entire fixed-rate ranges as 1,700 mortgage products disappeared from the market. The latest Foundation move points to a more selective phase of repricing: lenders are still reacting quickly to market conditions, but some are now re-entering with sharper offers where funding costs allow.
Swap rate easing gives lenders room to move
Foundation said the new limited-edition range was made possible by a slight easing in swap rates. That fits a broader pattern in specialist lending, where product withdrawals have increasingly been followed by quick relaunches once rate expectations stabilise.
In late March, Foundation returned to the buy-to-let market days after withdrawing products, underlining how quickly lenders are now adjusting pricing. The lender’s own buy-to-let intermediary pages continue to position HMOs, holiday lets and portfolio cases as core areas of focus.
For landlords, the practical point is that rate improvements are not spreading evenly across the market. Straightforward properties may benefit first, but specialist segments can also see targeted cuts when lenders want to win business in niches where competition is thinner. The warning is that limited-edition deals can disappear as quickly as they arrive, especially if swap markets turn again.
Landlords still need to look beyond the headline rate
While the pricing is more competitive than many specialist deals seen in recent weeks, the flat £3,995 fee means landlords still need to assess total cost rather than focusing only on the initial rate. On smaller loan sizes, that fee can materially change the real value of the product.
Portfolio landlords and investors refinancing larger balances may be better placed to absorb that cost, particularly where a sharper rate supports monthly cash flow or stress testing. For smaller landlords, the cheaper-looking headline may not automatically produce the best overall outcome once fees are included.
What this means for landlords
- If you’re refinancing a specialist property: fresh competition in HMO and holiday let lending could improve your options, but the window may be short.
- Watch for: total product cost, not just the pay rate, because a £3,995 fee can outweigh a modest pricing advantage.
- If you’re a portfolio borrower: targeted lender repricing may create better stress-test outcomes on larger remortgages.
- Bottom line: specialist buy-to-let pricing is loosening in places, but landlords still need to move carefully and compare full costs.
Editor’s view
Foundation’s move does not mean the mortgage market has settled. It does show that specialist lenders are willing to compete again when swap rates give them room, and landlords who have delayed refinancing may want to test the market rather than assume the worst pricing is still in place.
Author: Editorial Team – UK landlord & buy-to-let news, policy, and finance
Published: 9 April 2026
Sources: Foundation Home Loans, Foundation intermediary buy-to-let pages
Related reading: Foundation returns to BTL market days after product withdrawal
